Technology-enabled homebuilding company Veev has raised $400m in a Series D funding round to scale operations.
The funding round, which offered Veev unicorn status, was led by Bond.
LenX, Zeev Ventures, Fifth Wall Climate Tech, and JLL Spark Global Ventures also joined the round.
The homebuilder plans to use the new capital to fast track research and development efforts, scale operations, and build additional Digital Fab production facilities in the US.
Veev CEO and co-founder Amit Haller said: “Veev reimagined the entire homebuilding process by thinking about the home-as-a-product – the ultimate consumer product.
“By rethinking every element of the home, including design, materials, and the built environment, and fully integrating the homebuilding process from start to finish, we have managed to produce homes at a quality, speed, value, and sustainability that is unseen in the industry – until now.”
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By leveraging proprietary panelised approach, Veev produces fully cladded walls, complete with mechanical, electrical, and plumbing (MEP).
The firm delivers pre-inspected walls for installation at the site using their plug & play system.
Veev said that it provides ‘high-quality’ homes faster and more sustainably reimagining the entire building process. These homes are delivered at a lower cost compared with traditional construction.
Bond general partner Noah Knauf said: “Veev will fundamentally change the way we build and experience homes in this country.
“From software-defined manufacturing to in-house supply chains, Veev is leading the industry with new technological construction practices of unprecedented quality and sustainability.”
Recently, the company completed a 78-unit emergency housing development in San Jose, California in US, in 90 days.
In November last year, Veev partnered with Lennar to build 102 attached homes in Northern California.
Veev uses proprietary panelised approach to produce fully cladded walls. Credit: Veev.