Home » Modular firm Nexii bags $35m, hoists valuation to over $1.5bn

Modular firm Nexii bags $35m, hoists valuation to over $1.5bn

by Sion Geschwindt
Modular firm Nexii bags $35m, raises valuation to over $1.5bn

Vancouver-based modular construction company Nexii Building Solutions has raised $35m in a funding round led by Horizon Technology Finance Corporation and Trinity Capital Inc., bringing its current valuation to over $1.5bn.

The firm said it would use the fresh funds to accelerate its continued growth and manufacturing capacity in order to meet “surging demand for sustainable construction solutions”.

Nexii products, including its building system and material Nexiite, are precision-manufactured offsite and rapidly assembled onsite.

Nexii buildings have 31% less embodied carbon than conventional construction materials, can be built up to 75% faster, and produce virtually zero construction waste, the company said.

“The Nexii team continues to make significant progress with their planet-friendly building solutions, and we are excited to increase our commitment to this rapidly growing company,” said Ron Kundich, Chief Credit Officer of Trinity Capital.

Nexii building products have been used in projects for clients including Starbucks, Popeyes and Marriott; earlier this year, the firm opened its first manufacturing plant in the United States.

Stephen Sidwell, co-founder and CEO of Nexii, commented: “We are very thankful for Horizon and Trinity’s continued partnership with Nexii.

“Our revolutionary green building solutions are enabling us to win new projects with some of the largest global brands, and with Horizon and Trinity’s expanded support, we are well situated for continued growth and to deliver our sustainable construction technology worldwide.”

Last year, Nexii became the fastest Canadian company ever to reach unicorn status.

Image credit: Nexii

Read next: London contech startup KOPE secures £1.7m to automate offsite construction

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