Modulous, the global construction technology company that has created a scalable platform for the delivery of safe, sustainable, and healthy multifamily homes, today announced that it is expanding to the U.S. and is opening an office in the Seattle region. Founded in London by construction industry, business, and technology leaders, Modulous has developed a digital design platform, proprietary kit of parts, and preferred supplier network to radically reduce the risks and time associated with project feasibility, design, planning, permitting, construction, and delivery. The company aligns the interests of key stakeholders in the construction process by partnering with developers and architects or by licensing its end-to-end platform to general contractors.
Modulous is a construction technology firm developing a fully digitized design, costing, and procurement platform and a high-performance kit of parts to enable the rapid delivery of sustainable and affordable homes anywhere in the world.
“With a nationwide shortage of more than 5 million homes, there has never been a greater need to accelerate housing development in the U.S.,” said Modulous Co-Founder and CEO Chris Bone. “What makes Modulous unique is our asset-light approach. Avoiding capital-intensive factories, we instead focus on empowering developers, architects, and contractors with the information, products, and processes to do their jobs better. We give them real-time access to the data, building components, and service providers they need to develop high-quality housing at the speed and scale that society requires.”
Modulous in the U.S. is led by four women who were all senior staff at Katerra, the technology driven, offsite construction firm that had a transformational impact on the construction industry. Overseeing the U.S. team is Janet Stephenson, an industry leader in the productization of construction and the former head of building platform sales at Katerra.
“Modulous was founded on the belief that everyone should have access to sustainable, comfortable, and healthy homes,” said Stephenson, who will serve as Regional Managing Director, U.S. “I am pleased to join the Modulous team because I see a unique opportunity to leverage our technology and world-class supplier network to break the logjam in U.S. housing production. Rather than introducing another construction input that cannot scale, we will use our platform to align incentives in the ecosystem, accelerate sustainable development, and reduce the pricing pressure on homeowners and renters.”
Added Chris Bone, “We are absolutely delighted that Janet and her team have chosen to join Modulous. They are very talented and extremely experienced professionals who will help us land and expand in the U.S. market. The opportunity for us is vast, and we couldn’t have a better team of people at the wheel.”
“Modulous is exactly the kind of offsite construction firm that fits Blackhorn’s thesis for this built environment sub-sector,” said Ray Levitt, Blackhorn Ventures, the lead investors behind Modulous. “They own the customers – large public or private developers of affordable housing – and they operate as modular designers and digital supply chain integrators, while outsourcing manufacturing assembly and installation. This allows Modulous to be highly capital-efficient, profitable, and resilient to industry cycles. Expanding into the U.S. is the logical next step.”
Modulous has already leveraged its platform to initiate several projects in the U.K., and the company is currently preparing its design software, kit of parts, and partner ecosystem for a U.S. product launch in early 2021.
About the Modulous Platform
Modulous sits at the center of a development ecosystem that includes landowners, developers, funders, designers, suppliers, and contractors, providing the information and incentives for every participant in the ecosystem to expedite development projects. The company’s software streamlines project design and planning by generating fully engineered and locally viable design solutions, detailed cost information, and accurate programs at concept stage – all within seconds. Further, the platform incorporates a rules-based generative design approach that enables best-in-class sustainability standards, along with a reporting tool that provides investors with vital information for climate risk disclosure and benchmarking against ESG criteria.
The Modulous design software is connected to a proprietary set of sub-assemblies – its “kit of parts” – that the company developed to meet or exceed local building standards. Customers can use the kit of parts to rapidly deliver, assemble, and install new housing without a fixed factory. Furthermore, Modulous helps minimize customer overhead by seamlessly connecting them to the company’s network of premier product and service provider partners, including multinational construction industry leaders CEMEX, Knauf, and Crane Worldwide Logistics.
Additional Support from Investors and Partners
“We are delighted to have Modulous in our portfolio because it offers the industry a unique offsite construction model,” said Mateo Zimmermann, Investment Manager at CEMEX Ventures. “Its digital and innovative approach enables the supply chain to deliver sustainable and high-quality homes, significantly reducing time and costs. Modulous does not require additional capex, which makes it globally scalable, so I am delighted to see it expand into the U.S. market. People need more homes, and this team is going to revolutionize the residential development industry.”
“Crane Worldwide Logistics is pleased to partner with Modulous to support their highly efficient offsite construction business model,” said Ewan Alexander, Global Vice President of Consumer Logistics at Crane Worldwide Logistics. “The modular sector faces criticism for the transport of single units over long distances, but Modulous enables a different approach, transporting flat-packed ‘Kits of Parts’ from regional suppliers to local assembly points. Crane Worldwide Logistics is working with the technology team at Modulous to seamlessly integrate the full logistics journey into their software platform and admire their global vision to transform construction industry norms.”