Modulus Housing, a proptech startup, raised Rs 70 crore ($7.83 million) in a Series A funding round led by Kalaari Capital, Hero, and Samarthya. The round also included SVAS, Sigma, Zetwerk founder Srinath, Sanjiv Rangrass, and other investors. This is the company's first institutional funding.
Key Highlights
- Modulus Housing secures ₹70 Cr Series A funding, backed by Kalaari Capital, Hero and Samarthya Investments.
- Fresh capital to scale global operations, expand cloud-manufacturing infrastructure and advance prefabricated building production.
Modulus Housing was founded in 2018 by Shreeram Ravichandran and P. Gobinath and uses a factory-made construction paradigm for modular dwellings. To manufacture low-rise infrastructural buildings, it employs a cloud manufacturing network comprised of partner factories and a proprietary product suite.
The organization claims to run a lucrative business with a total income of over Rs 200 crore. From Rs 39 crore in the previous fiscal year to Rs 54 crore in FY24, the company's operating revenue rose by 38%. Its FY25 figures were not made public.
The money raised will be utilized for advanced research and development, a next-generation concrete modular system, market expansion in India and a few other international markets, and the expansion of its cloud manufacturing network. Additionally, Modulus intends to develop its green concrete technology for use cases in distributed infrastructure.
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According to the company, it has constructed more than 1,500 buildings spanning 21 Indian states and parts of Africa. These include distributed infrastructure projects, schools, site offices, cold storage facilities, and modular hospitals.
Modulus Housing is located in Chennai and seeks to extend operations across India and other regions.
