Modulize secures € 1,9 million to fight construction waste

Modulize, an Oslo-based offsite construction platform,raised €1.9M in a seed funding round led by KOMPAS. Other investors, including Pi Labs, Investinor, real estate developer Møller Eiendom, and Antler, also participated.

The construction industry is collectively responsible for 40% of global CO2 emissions. As a result, there is a significant demand for more sustainable building methods.

However, an ever-growing housing deficit, skilled labour shortages for onsite construction, and diminishing housing affordability have put pressure on the sector to innovate.

The increasing technological maturity of prefabricated buildings, as well as the application of new technologies, are converging with sustainability to accelerating the growth of offsite construction, which can reduce construction waste by as much as 90%.

Lucas 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.”

Strahl Capital is an early investor in the company.

(source, credit: Modulize, Pi Labs)