KOPE Secures £5.5m Funding Round to Revolutionize Construction
LONDON, UK, 16th January 2024 - KOPE, the only-purpose built software platform for offsite construction, is thrilled to announce a successful £5.5m Seed round of funding. The round was led by Socii Capital, with participation from notable investors such as Autodesk, Saint-Gobain, Barton Malow Ventures, Halkin Private Capital, and Luck Investment. These investments come at a crucial time for the construction sector, as it faces challenges including material shortages, rising prices, an aging workforce, and an increasing carbon footprint.
The construction industry is in dire need of solutions to mitigate these issues.
Productizing the construction supply chain and manufacturing more building components away from the site have proven effective. However, a tailored software platform like KOPE is necessary to support the required changes across design, construction, and procurement processes. Leveraging an unrivaled integration with the offsite construction supply chain, KOPE enables companies to evaluate and apply prefabricated products into new or existing projects seamlessly. This results in improved efficiency, reduced costs and waste, and the ability to accomplish sustainability goals.
KOPE's innovative platform enables companies to bring Products into Projects™, allowing them to instantly assess the impacts of different solutions throughout the entire design process. Mark Thorley, Co-founder and CEO of KOPE, expressed his excitement about the latest round of funding, saying, "This fundraising gives us further confidence that KOPE will support those in our industry looking to adopt prefabrication and offsite manufacturing. With our industry partners and their broad experience, we are excited about this next phase of our journey."
The round was led by Yuan Chen, CEO, and Partner of Socii Capital, who praised KOPE's positioning in terms of skills, domain knowledge, and network. Chen believes KOPE is well-equipped to take advantage of the structural change occurring in one of the largest and most important global industries. Ryan McMahon, General Manager of Manufacturing Informed Design at Autodesk, also shared his excitement, stating, "Autodesk believes that KOPE's strategy to integrate products into projects is transformational and reinforces that industrialized construction methods are the future for AEC."
Saint-Gobain, a leading global building materials company, expressed their delight in working with and investing in KOPE. UK & Ireland CEO Mike Chaldecott highlighted KOPE's platform as a tool that helps architects and designers quickly assess and specify solutions that deliver performance and results for their specific projects. Chaldecott believes this capability will accelerate the transformation of construction and the adoption of light, sustainable, and modern methods of construction.
About KOPE: Backed by the industry's largest offsite market, KOPE allows companies to digitally integrate prefabricated products and systems into their projects instantly, saving considerable time and effort when designing and pricing buildings.
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