Modular building startup Assembly OSM raises additional funds

Founded in 2019 by twin brothers Bill and Chris Sharples, principals of Manhattan-based SHoP Architects. Assembly OSM calls its construction method “post-modular” because it’s manufacturing process is more in common with an assembly line rather than a ‘generation one’ modular builder who manually constructs completed volumetric elements then transports to site.

Assembly OSM Modular spreads construction across a network of suppliers and manufacturers — an approach that “constrains” the process but allows for more freedom in design, CEO Andrew Staniforth said.

The startup has now raised more than US$60 million. Fifth Wall’s climate tech fund and Bessemer Venture Partners’ Rob Stavis led the latest round, with participation from the Jefferies Group, Manta Ray Ventures, FJ Labs, RSE, Signia, Gaingels, New Vista Capital, Tectonic, Atento, Etan Fraser and Moving Capital.

The Fifth Wall fund is “dedicated to decarbonizing the built environment and the global real estate industry.” Assembly claims that its buildings can have 30 to 40 percent less embodied carbon than traditional ones and that its construction sites cut emissions by 60 to 70 percent.

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The failure of Katerra, which filed for bankruptcy last year, has not discouraged Assembly. Staniforth said one of the easiest ways to combat the “Katerra stigma” is to point out to developers and investors that Assembly’s approach is “the exact opposite.”

“In our world, we have redundancy. We have multiple suppliers for each of the components,” said Staniforth.

See: assemblyosm.com

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