Intelligent City Raises $17M to Automate Urban Housing Construction
July 19, 2022
Canada-based Intelligent City has announced raising $17 million ($22M Canadian) to apply automation and robotics to the design and manufacturing of prefabricated mass timber buildings. With the latest funding, the company has now raised $23 million, and will use the new funds to scale operations, commercialize its Platforms for Life (P4L) building solution, grow factory automation, and expand its footprint across and beyond Canada.
The company said it completed testing of its building systems earlier this year, and is now verified to work with the new mass timber high-rise building codes in Canada and the U.S. The funding round included participation by BDC Capital’s Cleantech Practice, Greensoil PropTech Ventures, UIT Growth Equity GP, Fulmer & Company and more than 30 independent investors, in combination with government programs and accelerators.
“We are focused on revolutionizing an industry that is notoriously slow to innovate while making a significant impact on our climate with lower carbon emissions from the construction and operations of buildings,” said Oliver Lang, CEO and co-founder of Intelligent City. “By utilizing green building strategies and patented technology to deliver affordable, mass-customizable urban housing, we can help cities to adapt more quickly as the needs of people and the planet evolve.”
The company said it focuses on a deep vertical integration of building systems, software, manufacturing automation, and supply chain contacts in order to help developers achieve nearly 100% cost certainty, deliver 1.5x the number of residential units on the same site compared to traditional methods, and realize savings up to 50% on lifecycle costs per home.
“Intelligent City’s technology is set to enable the future of the built world to be more climate-resilient by replacing emissions-intensive materials such as concrete and steel with a renewable material that naturally sequesters carbon,” said Matt Stanley, director of BDC Capital’s Cleantech Practice. “We are excited to support the team to accelerate the development and scale-up of its mass timber building system and advanced offsite manufacturing capabilities.”
With a pipeline of more than 2,300 homes, Intelligent City said it is supported by leading developers in Vancouver, Toronto, Ottawa, and the U.S., including two high-rise projects in downtown Vancouver, one of which is supported by the British Columbia Mass Timber Demonstration Program.
For more information on the company and its technologies, visit its website here.
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