Modulus Housing Raises INR 70 Crore in Series A Round

Modulus Housing raised INR 70 crore in a Series A round. The investment was led by Kalaari Capital, Hero, and Samarthya. Other investors joined in too.

Funding details: INR 70 crore (Series A)

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Modulus Housing raised INR 70 crore in a Series A round. That’s about USD 7.83 million.

The round was led by Kalaari Capital, Hero, and Samarthya. It also saw participation from SVAS, Sigma, Zetwerk founder Srinath, Sanjiv Rangrass, and others.

This is the startup’s first institutional funding.

The funds will go toward market expansion in India and some global markets. The company plans to put money into advanced R&D, a next-generation concrete modular system, and green concrete technology. It also wants to scale its cloud manufacturing network.

Modulus Housing was founded in 2018 by Shreeram Ravichandran and P. Gobinath. The company says it has completed more than 1,500 buildings across 21 Indian states and parts of Africa. These include hospitals, cold storage units, schools, and site offices.

It claims to be profitable with cumulative revenue over INR 200 crore. Operating revenue grew to INR 54 crore in FY24.

Modulus Housing builds modular structures in factories using a network of partners. It focuses on low-rise infrastructure projects like hospitals and schools. The company operates mainly in India and is expanding to emerging markets.

Source:- Entrackr.