Modulus Housing, a Chennai-based proptech company focused on modular infrastructure, has secured INR 70 crore in its Series A round.
The round was led by Kalaari Capital, Hero and Samarthya, with participation from SVAS, Sigma and several individual backers. This is the company’s first institutional fundraise.
Founded in 2018 by Shreeram Ravichandran and P. Gobinath, Modulus Housing develops portable, reusable and factory-made building solutions. Its catalogue includes foldable cabins and sector-specific products such as the “MediCAB,” which is used in healthcare settings.
The company follows an off-site manufacturing model supported by a cloud network of partner factories. It also uses its proprietary product suite to deliver structures for low-rise infrastructure projects.
Modulus Housing plans to deploy the new capital to expand operations across India and select global markets. The investment will also support advanced R&D, the creation of a concrete modular system and the expansion of its cloud manufacturing network. In addition, the company aims to strengthen its green concrete technology to cater to wider distributed infrastructure requirements.
According to the company, Modulus Housing has delivered more than 1,500 buildings across 21 Indian states and parts of Africa. These include modular hospitals, cold storage facilities, site offices, schools and other infrastructure units.
The startup reports cumulative revenue exceeding INR 200 crore. Its operating revenue increased 38% in FY24, rising to INR 54 crore from INR 39 crore the previous year.
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