Modulus Housing Secures Rs 70 Crore Funding for Expansion

Modulus Housing is making waves in the proptech sector with its successful fundraising of Rs 70 crore ($7.83 million) in a Series A investment round. The funding round was prominently led by Kalaari Capital, Hero, and Samarthya, with additional investments from SVAS, Sigma, Zetwerk founder Srinath, Sanjiv Rangrass, and various other financiers. This marks the company’s first instance of institutional financing.

Overview of Modulus Housing

Established in 2018 by Shreeram Ravichandran and P. Gobinath, Modulus Housing employs a factory-made construction approach for modular buildings. The firm leverages a cloud manufacturing network consisting of partner factories paired with a proprietary product suite, allowing it to produce structures intended for low-rise infrastructure.

Financial Performance

Modulus Housing proudly states it operates profitably, boasting cumulative revenues that exceed Rs 200 crore. Notably, the company’s operating revenue surged by 38%, reaching Rs 54 crore in FY24, up from Rs 39 crore in the preceding fiscal year. However, the startup has yet to reveal its financial figures for FY25.

Future Utilisation of Funds

The capital raised will be directed towards market expansion initiatives across India and select international markets. Additionally, Modulus Housing intends to invest in advanced research and development, focusing on a next-generation concrete modular system and enhancing its cloud manufacturing network. A significant part of the strategy includes augmenting its green concrete technology for various distributed infrastructure applications.

Current Achievements

According to the firm, it has completed over 1,500 buildings within 21 Indian states and parts of Africa. These projects encompass a diverse range of modular developments, including hospitals, cold storage facilities, site offices, schools, and various distributed infrastructure ventures.

Headquarters and Expansion Plans

Headquartered in Chennai, Modulus Housing is poised for further growth with plans to enhance its operations across India and in emerging markets.