Founded by entrepreneur Stephen Sidwell in late 2018, Nexii Building Solutions, based in Vancouver B.C., is a technology company seeking to pick up the mantle as a leader in sustainable, modular, prefabrication construction.
The New York Times in a recent feature article described Nexii as “a rising star in the expanding green building industry,” combining a patented modular system with a reliance on 3D modeling software and third-party verification of its sustainability metrics.
Nexii became the fastest company in Canadian history to reach a valuation of more than $1 billion, doing so in 31 months. Having recently completed its seventh round of funding, the startup has raised more than $200 million (CAD) or $155 million (USD).
As Nexii scales beyond its current two Canadian manufacturing plants, operated by 400 employees, it plans to franchise its building panel process to local manufacturers who will market and sell Nexii building products in their regions. The local manufacturers would pay a licensing fee to the company and a percentage of revenue from product sales.
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Startup raises $155 million to become ‘rising star’ in prefabricated construction