With pressure mounting for cities to address affordable housing needs, decarbonize buildings, and meet sustainability goals, housing technology company Intelligent City raised $22 million, bringing the total capital invested in the company to $30 million.
As one of the first companies in North America to apply automation and robotics to the design and manufacturing of prefabricated mass timber buildings, Intelligent City will use the funding to scale operations, commercialize its Platforms for Life (P4L) building solution, grow factory automation, and expand its footprint across and beyond Canada.
Earlier this year, the company completed testing of its building systems and is now verified to work within the new mass timber high-rise building codes in Canada and the US.
The raise includes Series A venture funding with participation by BDC Capital’s Cleantech Practice, Greensoil PropTech Ventures, UIT Growth Equity GP, Fulmer & Company, and over 30 independent investors, in combination with government programs and accelerators such as the Natural Resources Canada (NRCan) Investments in Forest Industry Transformation program (IFIT), the Sustainable Development Technology Canada (SDTC) Start-Up Fund, and the Next Generation Manufacturing Supercluster (NGen) Manufacturing Project Funding.
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