Modulus Housing, a proptech startup, has raised ₹70 crore ($7.83 million) in a Series A funding round led by Kalaari Capital, Hero Enterprise and Samarthya.
The round also saw participation from SVAS, Sigma, Zetwerk founder Srinath, Sanjiv Rangrass, and others.
The fresh funds raised will be used to expand its presence across India, select global markets, advance R&D for a concrete modular system, and scale its cloud manufacturing network. Modulus also plans to expand its green concrete technology for distributed infrastructure use cases.
Founded in 2018 by Shreeram Ravichandran and P. Gobinath, Modulus Housing 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.
Its current portfolio includes over 1,500 modular buildings across 21 Indian states and various parts of Africa.
The company reports that its operating revenue has gone up by 38 per cent to ₹54 crore in FY24 from ₹39 crore in the previous fiscal year.
Shreeram Ravichandran, Co-founder & CEO, Modulus Housing, said, “We’re incredibly excited about the road ahead. With multiple live projects across F&B, edge data centres, FMCG, oil & gas, healthcare and PSUs, Modulus is demonstrating the future of faster, more cost-efficient, and higher quality distributed low-rise infrastructure. The conviction shown by our investors further strengthens our belief that this sector is at the cusp of transformation. And the most rewarding feedback we receive is simple: that our R&D and technology are solving real-world problems and improving time, cost and quality simultaneously.”
Sampath P, Partner at Kalaari Capital, said, “Modulus is solving a key problem in the infrastructure sector – where demand is decentralized, recurring, and urgent while unmet in quality expectations. Their factory-first approach brings scalability and predictability to one of the most fragmented industries. We believe Modulus has the potential to become a category leader in industrialized micro-construction and are excited to work with the team in their next phase of growth.”
