Monday, August 19, 2019

Modular Smart-Home Startup Blokable Raises $23M, Plans New California Manufacturing Facility

Blokable, the Seattle-based startup aiming to transform how housing is developed, raised $23 million to expand its manufacturing capabilities as it gears up to kickstart new projects.

The startup manufactures modular smart home units in a warehouse in Vancouver, Wash. that can be stacked into multi-story projects once they are trucked to a project site. The company plans to open a second manufacturing facility, in Sacramento, Calif., following the funding round.

The Series A round was led by Vulcan Capital, the investment arm of the late Paul Allen, with participation from Salesforce co-CEO Marc Benioff, Building Ventures, Jason Calacanis’ LAUNCH, Kapor Capital, Motley Fool Ventures, Ten Eighty Capital, and angel investor Dennis Joyce. The round brings Blokable to $28 million in lifetime funding.

Last year, Blokable delivered a model unit as part of a larger housing project in Edmonds, Wash., north of Seattle. Since then, Blokable hasn’t completed any additional projects, and has instead focused on nailing down the business model and making sure the manufacturing process meets housing regulations.

CLICK HERE to read more about Blokable’s future

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