Prescient develops prefabricated buildings for residential apartments, senior living facilities, student housing, and the hospitality sector. The company’s factories, situated in Colorado and North Carolina, are automated robotic plants which manufacture components to be assembled on-site. The company also uses patented software and 5D building information modeling (BIM) to create a digital replica of the building to be manufactured. These are used to communicate manufacturing specifications across project teams. The prefabricated components are assembled on-site as indicated by the digital prototype. Prescient buildings are said to be resistant to fire, wind, seismic activity as well as termites.
Its buildings are considered sustainable, as they are built to eliminate waste in the construction process. All components are made of 100% recycled steel, which also meets leadership in energy and environmental design (LEED) standards. By June 2021, the company had obtained more than 103 patents in 30 countries for its hardware and software systems with another 75 pending approval. Prescient has completed 63 buildings so far.
In May 2021, the company received USD 190 million in strategic investment and bonding support from long-term investors Eldridge and JE Dunn, bringing its total funding to USD 295.4 million. The new capital was expected to be utilized to accelerate its expansion of the multifamily segment.
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