CEMEX Ventures makes investment in Modulous
Published by Emily Thomas,
CEMEX Ventures, CEMEX's Corporate Venture Capital and open innovation unit, has announced its investment in Modulous, a company with a disruptive offsite construction system, enabled by a digital platform, to allow the high-speed delivery of quality, sustainable and affordable homes. This is hoped to transform the construction process as it is currently known, providing the industry with a unique modular construction solution.
It has become apparent that modular construction, in its current form, is not efficient. Although it does improve speed and quality of the build process, it needs to make significant improvements to solve the housing crisis. London-based startup Modulous offers a new approach to increase the home production for the UK and support ambitions to meet the housing requirements for the year 2050, when 3 billion people are expected to live in cities, representing 70% of the population.
Modulous aims to achieve this through a new construction approach based on a highly engineered kit-of-parts that enables the delivery of high-quality affordable homes at scale and pace. The software platform leverages artificial intelligence, generative design and 5D BIM modelling providing a fully integrated supply chain solution.
By digitising the entire materials supply chain management, Modulous reduces the time and cost overruns common in the construction process. By decentralising operations this solution can scale rapidly as assembly of the modules is carried out by companies local to the final site. The construction system is easy to assemble, converting the kit of parts into homes in hours instead of months.
Modulous has already secured a large pipeline of projects across the UK and Europe. It is currently preparing the delivery of a £6.5 million residential scheme in London using its smart design and construction system that will achieve completion 12 months ahead of schedule.
"By including Modulous in our portfolio, we offer the industry a unique offsite construction model" said Mateo Zimermmann, head of CEMEX Ventures investment in Modulous. "After several years of exploring how this segment is advancing, we placed our trust in this team that perfectly combines engineers, designers, and technological developers. The Modulous 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. This team is going to revolutionise the residential development industry.”
"Although we are currently focused on the south of England, where we expect to achieve sales of £25 million in the pilot year, we want to offer a global solution to housing needs in Europe," said Chris Bone, Co-Founder and Managing Director by Modulous. "We are delighted to be part of CEMEX's global vision for offsite construction and future collaborations to launch advanced and tailored materials through collaboration in research and development. Having the support and access to customers and suppliers of CEMEX and CEMEX Ventures makes us a more relevant player in the industry where we participate".
Modulous is one of the winners of the 2020 Construction Startup Competition, the annual startup challenge organised by CEMEX Ventures. This startup was also part of the Top 50 ConTech Startups list in 2019.
Read the article online at: https://www.worldcement.com/europe-cis/15012021/cemex-ventures-makes-investment-in-modulous/
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