Proptech Firm Modulus Housing Raises INR 70 Cr in Series A Round

Roptech startup Modulus Housing has raised INR 70 crore in its Series A funding round.

The investment was led by Kalaari Capital, Hero and Samarthya, while SVAS, Sigma and several individual investors also took part. This marks the first institutional funding for the Chennai-based company.

Modulus Housing was founded in 2018 by Shreeram Ravichandran and P Gobinath. The startup develops modular, portable and reusable infrastructure solutions.

Its product range includes foldable cabins and specialised offerings such as the MediCAB used in healthcare. The startup follows a factory made construction approach for modular buildings and works with a cloud manufacturing network that includes partner factories. It also uses a proprietary product suite to build structures for low rise infrastructure projects.

The startup plans to use the new capital to expand its presence across India and select international markets. The funds will also support advanced research and development, a new concrete modular system and the growth of its cloud manufacturing network. Modulus aims to strengthen its green concrete technology for a wider range of distributed infrastructure needs.

According to the company, it has delivered more than 1500 buildings across 21 states in India and in parts of Africa. These projects include modular hospitals, cold storage units, site offices, schools and other infrastructure facilities.

Modulus Housing reports that it has been operating profitably with cumulative revenue of more than INR 200 crore. Its operating revenue rose 38 percent to INR 54 crore in FY24 from INR 39 crore in the previous year.