<div>
  <ul>
    <li>
      <p>
        Ilke Homes, a British developer of single-family modular houses, raised GBP 100 million (〜USD 122 million) led by funds managed by affiliates of Fortress Investment Group LLC with participation from existing investors TDR Capital and Sun Capital.&nbsp;
      </p>
    </li>
    <li>
      <p>
        The funds will be used to scale up its operations and open a new manufacturing facility that will increase its capacity to 4,000 homes a year. Funds will also be invested in automating more of its manufacturing processes to improve its productivity in operations.&nbsp;
      </p>
    </li>
    <li>
      <p>
        <b>Analyst QuickTake:</b>
         The round is reportedly the largest-ever raised by a prefab builder based in the UK. Ilke Homes previously raised 
        <a href="https://sp-edge.com/updates/6499">
          GBP 60 million
        </a>
         (〜USD 82 million) in September last year to expand operations. Since then, the company had entered into several partnerships, including 
        <a href="https://sp-edge.com/updates/10739">
          Man GPM
        </a>
         for a prefabricated community housing project, 
        <a href="https://sp-edge.com/updates/10917">
          Octopus Energy
        </a>
         to build zero-energy-bill homes, and 
        <a href="https://sp-edge.com/updates/12012">
          Orbit Homes
        </a>
         to deliver sustainable prefab houses.
      </p>
    </li>
  </ul>
  <p>
  </p>
</div>


<div>
  <p>
    <a href="https://ilkehomes.co.uk/2022/12/ilke-homes-announces-100-million-new-equity-investment/?utm_source=rss&utm_medium=rss&utm_campaign=ilke-homes-announces-100-million-new-equity-investment">
      Ilke Homes
    </a>
  </p>
</div>


Prefab Tech

Ilke Homes raises GBP 100 million for expansion

<div>
 
 <p>The Canadian company Nexii, known for manufacturing prefabricated buildings, is being acquired for USD 3 million by a consortium directed by its own senior management and several Canadian entities. The company had previously filed for creditor protection due to financial issues.</p>
 <p>The buying consortium, already informed about Nexii's operations, plans to continue working on existing contracts and maintaining the company's operations post-acquisition. Additionally, an extension of the creditor protection has been requested by the court-appointed monitor to facilitate the transaction process.</p>
 <p>From the sale, a percentage of assets, including some contracts, will be excluded by the company. Nexii is currently in talks with a number of interested parties for the acquisition of these remaining assets.</p>
 
</div>

Nexii acquired by senior management-led consortium of buyers for USD 3 million

<div>
 
 <p>Modulous, a construction startup specializing in modern methods, has gone bankrupt. Reports confirm it owes GBP 6.2 million to creditors, with only GBP 7,397 available for repayment. The company's liquidation was confirmed last week.</p>
 
</div>

Modulous goes into liquidation; owes GBP 6.2 million to creditors

<div>
 
 <p>ZenniHome, a prefab housing unit developer, has secured a USD 74 million grant from the Navajo Nation. This funding consists of USD 50 million from the Community Housing and Infrastructure Department for the construction of up to 250 prefab housing units for high-need residents in the Navajo Nation, and USD 24 million from the American Rescue Plan Act (ARPA) to establish a second factory at the previous Navajo Generating Station site.&nbsp;</p>
 <p>An additional USD 36 million can be obtained by the company, aiding the project's completion. Future collaboration between Navajo Nation and ZenniHome will encompass initiatives like housing for veterans and addicts.</p>
 <p>ZenniHome produces modular, prefab housing units suitable for single-family homes, multi-family developments, and accessory dwelling units (ADUs). It provides two steel-framed units featuring sustainable design principles and smart-home attributes like robotic walls and furniture. These include a one-bedroom 320 sq ft home at USD 90,000, and a two-bedroom 640 sq ft home from USD 125,000. The company also states that its modular units can be vertically stacked up to five floors.</p>
 
</div>

ZenniHome receives USD 74 million as grant from Navajo Nation

PROMINENT_CATEGORY

<div>

<p>ICON, a construction firm using 3D printing technology, has unveiled Phoenix, a 3D printer with a robotic arm. This printer is designed to create fully enclosed, multi-story structures using a low-carbon compound. Phoenix boasts a reach of 70 ft, allowing it to construct buildings up to 27 ft tall. The printer uses a gantry system to distribute Lavacrete, ICON's exclusive cement mixture, through a gyroscope-stabilized nozzle. </p>

</div>

ICON Unveils Phoenix, a robotic-arm-mounted 3D printer, for multi-story structures

<div>
 <p>Apis Cor, a company that develops 3D-printed houses and buildings, has received an undisclosed strategic investment from D.R. Horton, a US homebuilder. This collaboration will focus on the creation of a 3D-printed wall system for a multi-unit construction project in South Florida.</p>
 
</div>

Apis Cor receives strategic investment from home builder D.R. Horton

<div>
 <p>Assembly Corp, a Toronto-based company that creates prefab modular housing using mass timber and was previously known as R-Hauz, has secured an investment of CAD 1.25 million (USD 1 million) from The Atmospheric Fund (TAF). This investment will be utilized for the development of the company's environment-friendly, budget-friendly housing projects.</p>
</div>

Assembly Corp. raises CAD 1.25 million

INCUMBENTS_PRESENT

<div>
 <p>Housing developer Lennar acquired Veev, a modular construction company. Veev previously announced imminent closure in November 2023, due to a sudden cancellation of a capital-raising effort. The closure was attributed to the challenging market conditions and inability to secure necessary additional funding.</p>
</div>

Lennar acquires modular housing developer Veev

<div>
 <p>California-based developer, Mighty Buildings, has received a $5 million grant from the California Energy Commission to develop prefabricated zero-carbon homes for low-income communities in Bay Point, California. The project involves collaboration with Lawrence Berkeley National Laboratory and Habitat for Humanity.</p>
 <p>The aim is to construct three prefabricated homes using 3D printing and include solar panels to distribute energy loads. These features aim to lower long-term ownership costs.</p>
</div>

Mighty Buildings secures USD 5 million grant from California Energy Commission

<div>
<p>ecoworks, a net-zero prefabrication solutions provider based in Berlin, has secured EUR 40 million in Series A financing. The eco-focused World Fund led the round, with contributions from German investor Haniel, Kompas VC, and French fund ISAI. The funds received will be utilized to progress the firm's software platform, enhance hardware design, and expand operations. ecoworks uses digital tools, AI, and robotics to upgrade existing structures and combat energy inefficiency, aiming to decrease energy demand by 85% to 90%. The company's primary focus is on large-scale residential projects.</p>
</div>

ecoworks raise EUR 40 million to develop software and expand operations

<div>
 <p>Arizona-based Cavco Industries has launched the Anthem, the first US HUD-approved manufactured duplex. This initiative aims to address housing affordability issues and responds to government strategies to control rising costs. The duplex design provides an opportunity for homeowners to mitigate mortgage payments by leasing one unit while living in another.</p>
 <p>Various floor plans, including two- and three-bedroom options, as well as duplex and quadplex layouts, allow owners to diversify their properties. The Anthem presents practical homeownership and rental solutions, attracting first-time buyers and property investors.</p>
</div>

All Updates