The funds were raised from various investors, including Patrizia-backed Sustainable Future Ventures (SFV), Regal London, CEMEX Ventures, Goldacre, Blackhorn Ventures, Leela Capital and GroundBreak Ventures.

The Modulous software platform automates design, costing and programming — meaning developers, architects and contractors can figure out pricing and decide whether a site is viable within hours.

The firm aims to partner with developers, public housing providers, architects and construction firms, offering them a configurable Kit of Parts to build modular homes without needing a factory.

Chris Bone, CEO at Modulous (pictured above), said: “We are delighted to have completed this Series A round — it’s a testament to the potential we have to solve the housing crisis and to the amazing team we have built.

“Building energy efficient, affordable housing without the waste and carbon footprint that accompanies traditional construction has never been more critical.

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“Modular delivery is really the only way the housing crisis can be resolved, but for many, the upfront capital investment has held back the industry’s ability to scale. 

“We are keen to prove that by collaborating with each other, the industry can move forward with transparency and cost certainty front and centre.”

Conan Lauterpacht, partner at Sustainable Future Ventures, commented: “We are very pleased to back the outstanding Modulous team, which brings together experts across design, construction, and technology. 

“Modulous stands out for us in the way it has brought together the physical and the digital in the built environment, by combining its ground-breaking Kit of Parts modular solution with a digital design platform.

“We are excited to support the company’s mission to reinvent the way homes are delivered while prioritising better outcomes for people and planet.”

Mateo Zimmermann, investment manager at CEMEX Ventures, added: “We’re taking bold steps to try and decarbonise construction and housebuilding. 

“Precision-engineering homes offsite is an important way to drive up quality, reduce safety problems and cut carbon all at once. 

“Modulous’ asset-light approach — that goes direct to suppliers — strips out the need for costly factories, one of the biggest barriers to making offsite manufacturing a mass-market solution.

“These are universal challenges, and we firmly support the approach of forging partnerships with all relevant stakeholders in the market to solve it together.”