PE-VC Fund Investments
Pre-fabricated homes player Modulus Housing nets Rs.70-Cr from Kalaari Capital, others
Chennai-based Modulus Housing has raised INR 70 crore (about USD 7.8 million) in a round co-led by Kalaari Capital, Hero, and Samarthya Investments with participation from SVAS Strategic Management, Sigma, Zetwerk co-founder Srinath Ramakkrushnan, and other investors.Founded in 2018 by Shree Ram Ravichandran and Gobinath P, Modulus Housing offers to construct low-rise prefabricated buildings. It claims to build prefabricated structures in under 30 days, suitable for emergency healthcare units, clinics, warehousing solutions, electric vehicle (EV) charging stations, and on-site offices. The company operates in over 21 states with 10 manufacturing plants and serves clients such as Indian Oil, Tata Group, and L&T.The company plans to use the new funds to expand operations in India and global markets, enhance R&D for concrete modular systems, expand its cloud manufacturing infrastructure, and develop lightweight green concrete technology for construction.
In Oct-24, Modulus Housing had attracted funding from Enrission India Capital.For FY24, Modulus Housing had reported about INR 53.78 Cr in Operating Income and about INR 1.58 Cr in PAT.
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