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Funding Fridays—Veev raises $400 million Series D

Home construction technology company Veev has secured $400 million in a Series D funding led by BOND and other participating investors including LenX, Zeev Ventures, and Fifth Wall.

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The home building innovator has pioneered a proprietary home construction method that uses panelized building blocks that can be factory-assembled—similar to Lego—that actually reduce carbon dioxide emissions by 47% compared to traditional construction methods.

Now having raised a total of $600 million to date, Veev will use its new funding towards research and development of more sustainable building practices for single-family and multi-family homes as well as the construction of new facilities across the country.

The company is on a mission to address the current housing supply crisis by building homes in a more environmentally-friendly way that is more cost-effective than contemporary construction methods. All Veev homes also come with a digital home interface that allow homeowners to better control their energy consumption using prebuilt automations.

Veev is hoping to achieve its goal of reducing the carbon footprint of their homes by an additional 25% by the end of this year.

On average, Veev is able to construct homes up to 4x faster than a standard single-family home build using materials that are lighter, stronger, and more sustainable with near zero waste.

CEO Take: Veev's environmental approach to building modular homes is both innovative and forward-thinking. It truly is a fantastic example of a proptech startup using technology to solve real-world problems.

Ultimately, Veev is almost single-handedly addressing the nation's housing shortage, tackling the housing affordability crisis, and helping to fight climate change all in one fell swoop.

By streamlining design, modular prefabrication and cutting-edge technology is allowing Veev to construct homes upon to four times faster than industry standard and at a lower cost which can then be passed on to the consumer.

Recently, Veev also announced its expansion into accessory dwelling units (ADUs) to help further address the housing shortage and make homes more affordable than ever before.

Congratulations to Veev on your latest round of funding and if you're ever in the market for a property data provider, please connect with us!

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