Amit Haller sold a Bluetooth chip company to Texas Instruments in 1999 for $50 million.
He just raised eight times that much for his current startup, which grew out of his second career in real estate development.
It’s Veev Group Inc., a San Mateo-based modular home building business that in October 2020 completed a 78-unit emergency housing development in San Jose in just 90 days. It is doing another project now in the East Bay in a partnership with one of its investors, national homebuilder Lennar Corp.
The core of what Veev makes is done at what Haller calls a “fab” — a term he’s borrowed from the semiconductor industry where he worked early in his career. But Veev’s fab isn’t a clean room where computer chips are assembled. Instead, it is a factory in Union City that makes steel-framed walls, floors and ceilings for homes in the form of panels. The panels contain all of the mechanical, electrical and plumbing implements that usually get installed at a construction site.
Laurel Homes in San Carlos is one of the early projects that San Mateo-based Veev has built. The company made all of the panels used in the project at a “fab” in Union City and then snapped them together o the building site.
“We make homes like we would make any other consumer product,” Haller told the Business Journal. “And homes are the ultimate consumer product.”
Veev’s walls are adaptable to build anything from a single-story accessory dwelling unit to an eight-story apartment building, Haller said. The pre-inspected walls can be built to order and snapped together on-site in a way that he compares to the couplings of a train.
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Gary Fleisher is Editor in Chief of Modular Home Source and the Offsite Builder. Email at [email protected]
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