Chennai-based Modulus Housing, a proptech startup specializing in factory-made modular buildings, has successfully raised Rs 70 crore ($7.83 million) in its first institutional funding round (Series A).
The round was led by prominent investors Kalaari Capital, Hero, and Samarthya, and also saw participation from SVAS, Sigma, Zetwerk founder Srinath, Sanjiv Rangrass, and other investors.
Key Details from the Announcement
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Model: Founded in 2018 by Shreeram Ravichandran and P. Gobinath, Modulus Housing utilizes a proprietary product suite and a cloud manufacturing network of partner factories to produce modular, low-rise structures.
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Financials: The company claims to be profitable, reporting a cumulative revenue of over Rs 200 crore. Operating revenue grew by 38% in the last fiscal year, rising from Rs 39 crore in FY23 to Rs 54 crore in FY24.
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Utilization of Funds: The capital will be deployed for:
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Market expansion across India and select global markets.
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Advanced R&D, including a next-generation concrete modular system.
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Scaling its cloud manufacturing network and green concrete technology for distributed infrastructure.
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Track Record: Modulus Housing has completed over 1,500 buildings across 21 Indian states and parts of Africa. Its projects include modular hospitals, schools, cold storage units, and site offices.
Modulus Housing, headquartered in Chennai, intends to use the fresh funds to significantly expand its operations across India and emerging global markets.
By: Sandhya Bharti
