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Successful round of funding fuels MMC kit-of-parts modular builder.
With the stated intention of being able to deliver a modular house anywhere in the world from a kit-of-parts, UK-based Modulous may well classify as a genuine building industry disruptor.
They’re a modular builder, but they don’t own a factory. And, if their most recent round of funding to the tune of £10m (AUD$17m) backed by multi-national investors and corporations is an indicator of their market acceptance, their trajectory will be engaging.
Modulous was founded in 2018 by a team of construction, technology, and manufacturing specialists to create an asset-light model for the design and delivery of modern methods of construction (MMC) sustainable modular homes in direct response to the global housing crisis and escalating climate emergency.
“Building energy efficient, affordable housing without the waste and carbon footprint that accompanies traditional construction has never been more critical,” said Modulous CEO Chris Bone. “Modular delivery is really the only way the housing crisis can be resolved, but, for many, the upfront capital investment has held back the industry’s ability to scale.
“We are keen to prove that by collaborating with each other, the industry can move forward with transparency and cost certainty front and centre. That’s why we are delighted to have completed this Series A round in the most testing funding environment for decades. It’s a testament to the potential we have to solve the housing crisis and, to the amazing team we have built.”
Watch a PlaceTech interview with Modulous CEO, Chris Bone.
Their MMC modular building solution addresses what it sees as the major pain points across three core areas of the home-building process.
Architecture and design – Modulous software generates optimised designs and massing for a site and bases these on its physical kit-of-parts. It’s assured to guarantee the technical feasibility of the design, but also provides accurate costs and programme, and completed in hours.
Construction – Modulous kit-of-parts enables contractors to deliver multi-storey apartment blocks with no upfront investment. Instead of requiring complex and costly factories, Modulous’s established supply chain partners deliver sub-assemblies to assembly facilities near site, increasing margin, employing local labour, and improving working capital efficiency.
Development – Modulous produces 3D visualisations, detailed cost plans and will provide developers a real-time analysis of return-on-investment calculations, enabling them to quickly option sites and establish land values driven by accurate data.
