8.8 C
Wednesday, May 25, 2022

Nordic offsite construction platform raised €1.9M in a seed round

Norwegian developer of offsite construction software Modulize has raised 1.9 million euros in a seed round led by Danish early-stage venture capital firm Kompas with the participation of Europe’s first VC firm UK-based Pi Labs, Norwegian real estate developer Møller Eiendom, Norwegian-based evergreen venture capital firm Investinor and global early-stage venture capital firm Antler. The funding will help the company to develop its product and reach out to new European markets.

Founded in 2020 by Lucas Carstens, Olav Ljosland, and Håkon Kalbakk after receiving investment from Antler, the company has started to work with a focus to play a substantial role while building a world where construction is faster, cheaper and greener. Oslo-based startup Modulize aims to contribute to making the building sector more sustainable by empowering offsite manufacturers and their customers through automated building analysis, calculation, and design for higher use of offsite construction. This will reduce material waste, emissions and disruption to the building site.

About Modulize

With the construction industry collectively responsible for 40% of global CO2 emissions, there is a significant demand for more sustainable methods of building. An ever-growing housing deficit, skilled labour shortages for onsite construction and diminishing housing affordability have put greater pressure on the sector to innovate.

The increasing technological maturity of prefabricated buildings, as well as the application of new technologies like 3D printing and digital collaboration are converging with sustainability to accelerate the growth of offsite construction, which can reduce construction waste by as much as 90%.

Offsite construction will play a crucial role in building a world in which construction is faster, cheaper and greener. To finally unlock the true potential of OSC, Modulize is becoming the definitive platform for optimised and automated OSC design, planning, procurement and delivery.

Modulize, Lucas CarstensLucas Carstens, CEO at Modulize says, “Onsite construction is prone to over-ordering materials to avoid delaying the building works, but this inevitably leads to waste – having the various building elements produced in a factory avoids this and allows for more efficient use of materials.

Offsite construction has been proven to be faster and cheaper while producing far less waste. Our work aims to provide a foundation for the entire construction ecosystem to take this approach. The investment we’ve received will enable us to grow, improve our offering and reduce the environmental impact of the sector.”

Modulize, Kompas, Sebastian PeckSebastian Peck, Partner at KOMPAS says, “The fundamental reason underpinning our investment in Modulize is due to the highly fragmented nature of the offsite construction industry. The current landscape provides ideal conditions to develop a solution that automates key business processes, supporting the sector in its digital transformation and making the industry more efficient.

Offsite construction methods have been shown to be significantly more sustainable than traditional onsite construction. The adoption of digital technology by the sector supports much greater versatility in building design, a higher degree of automation in the manufacturing process, and more efficient back-office processes. Modulize is extremely well-placed to benefit from these trends and we look forward to seeing their growth.”

Click here to read more funding news.

- Advertisement -spot_img
Nurcin Metingil
Nurcin Metingil
A permanent student, a passionate first reader and nowadays doing master’s degree in Publishing Management. Beside these, I am up for games! I have been playing games since I was 6. Now, I am whispering "Business. Business. Numbers. Is this working?"

Related News

Stay Connected


Latest News