Infrastructure projects are vital components of cities, however, the environmental impact and cost of building new homes and roadways are often substantial. According to research firm BOLD Insights, construction projects emit large amounts of carbon dioxide and methane into the atmosphere, which are some of the main contributors to climate change. The push to find new construction methods that reduce the environmental impact of infrastructure projects has led many companies, including one in the Seattle area, to create new technologies to aid in the process.
Modulous is a tech company based in Seattle and London that has developed software to estimate the costs and environmental impacts of new construction projects. On Monday the company announced that it raised an $11.5 million Series A round to further expand its platform.
The Series A included participation from several international real estate developers such as Regal London, Blackhorn Ventures, GroundBreak Ventures and other.
Modulous wants to help reduce the housing deficit while also improve construction methods. Its platform hopes to achieve that.
The company’s platform automates the design, budget and programming processes for new developments and helps developers find the true cost of their build in a few hours. Modulous also developed configurable kits that simplify the construction process.
Through supply chain partnerships, Modulous is able to reduce build time by up to 50 percent, according to the company. This is achieved by having agreements on the number of modular kits the company will have delivered at any time.
The platform also reduces carbon emissions by 60 percent, according to Modulous.
“Building energy efficient, affordable housing without the waste and carbon footprint that accompanies traditional construction has never been more critical,” Chris Bone, CEO of Modulous, said in a statement. “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.”
