The company has collaborated with several investors and developers. Credit: TopHat.

UK-based modular house builder TopHat has raised £70m in a funding round led by housebuilding company Persimmon and Aviva Capital Partners.

Persimmon invested £25m as part of the fundraising programme, which was joined by new and existing TopHat shareholders.

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The funds come as the business prepares to establish a modular housing factory in Corby, Northamptonshire.

TopHat expects to produce up to 4,000 extremely low-carbon homes annually from the proposed facility.

The company also produces a brick façade technology, which is used in the construction of its new homes.

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Persimmon group chief executive Dean Finch said: “Persimmon is delighted to announce this partnership with TopHat, which brings together the skills of the country’s most innovative modular homes manufacturer with those of the UK’s most cost-effective volume house builder.

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“Our partnership will provide Persimmon with guaranteed access to TopHat’s highly energy-efficient volumetric modular homes and its innovative brick façade system, which has significant potential within our own Space4 timber frame business.”

TopHat has collaborated with several investors and developers, including Man Group, BoKlok, and Urban & Civic.

TopHat founder and CEO Jordan Rosenhaus said: “Today’s announcement is testament to the innovative approach that TopHat continues to take to house-building and marks a step-change for the future of housing.

“It has been clear for some time that designing and building green, beautiful homes in factories is a critical part of solving the housing crisis – and today’s announcement will enable TopHat to reach the scale where the new generation of modular homes can be made available to everyone.”