Modulus Housing, a high-growth PropTech startup incubated at IIT Madras, has successfully secured $7.83 million (₹70 Crore) in a Series A funding round. This major investment is set to dramatically accelerate the company’s expansion and technological advancements in the modular construction industry.

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The funding round was spearheaded by premier venture capital firm Kalaari Capital. Key participation also came from Hero Enterprise and Samarthya. Additional contributors included SVAS, Sigma, and notable individual investors like Srinath Ramakkrushnan and Sanjiv Rangrass of Zetwerk.

This marks the Chennai-based firm’s first institutional funding round, validating its profitable and scalable business model in the rapidly growing field of factory-made buildings.

The fresh capital is earmarked for a multi-pronged strategy designed to cement Modulus Housing’s market leadership and technological edge:

1. Accelerated Market Expansion

Modulus Housing plans to significantly accelerate its presence across India. Crucially, it will also extend its reach into select international markets, focusing on regions like Africa where there is high demand for rapid, low-rise infrastructure solutions.

2. Advanced R&D and Product Launch

A substantial portion of the funds is dedicated to advanced research and development. This includes the anticipated launch of a next-generation concrete modular system to further enhance the company’s product suite.

3. Scaling the Cloud Manufacturing Network

The company will invest in scaling its proprietary cloud manufacturing network and partner ecosystem. This distributed, factory-first approach is essential for maintaining precision, scalability, and cost-effectiveness across all projects.

Founded in 2018 by IIT Madras alumni Shreeram Ravichandran and P Gobinath, Modulus Housing’s core value proposition is the industrialization of the construction process to solve issues of time, cost, and quality simultaneously.

The Green Concrete Advantage

A key differentiator is the company’s proprietary material science. Modulus uses a lightweight, green concrete technology stack. Co-founder Shreeram Ravichandran noted that this material can achieve full structural strength in just a few hours, dramatically contrasting with the 28-day curing time for traditional concrete.

Cloud-Based Efficiency

The company’s cloud manufacturing model utilizes a decentralized network of partner factories. This allows for the efficient production and delivery of precision-engineered, modular low-rise structures. These constructions serve diverse sectors, including micro-facilities like retail chain stores, healthcare labs, EV charging hubs, and edge data centers.

Modulus Housing has established itself as a profitable enterprise with a strong financial track record:

• Revenue Growth: Operating revenue increased by an impressive 38% in FY24, rising from ₹39 crore to ₹54 crore.
• Cumulative Revenue: The company’s total cumulative revenue now exceeds ₹200 crore.
• Project Portfolio: Modulus has successfully delivered over 1,500 modular buildings across 21 Indian states and various African nations, executing diverse projects from commercial spaces to institutional buildings.

The commitment from investors like Kalaari Capital reinforces the belief that the construction sector is undergoing a massive transformation. Sampath P, Partner at Kalaari Capital, stated that the firm’s factory-first approach brings much-needed predictability and scalability to a traditionally fragmented industry, positioning Modulus Housing as a potential category leader in industrialized micro-construction.

This funding validates the company’s promise to deliver faster, more cost-efficient, and higher-quality distributed infrastructure globally.