CANADA – Intelligent City, a Vancouver, BC-based housing technology company, raised CAD30M in funding.
The round was led by BDC Capital’s Cleantech Practice, Greensoil PropTech Ventures, UIT Growth Equity GP, Fulmer & Company, Natural Resources Canada (NRCan) Investments in Forest Industry Transformation program (IFIT), the Sustainable Development Technology Canada (SDTC) Seed Fund, and and the Next Generation Manufacturing Supercluster (NGen) Manufacturing Project Funding. Jamie James, Managing Partner at Greensoil PropTech Ventures, will join the Board of Directors of the company.The company intends to use the funds to scale operations, commercialize its Platforms for Life (P4L) building solution, grow factory automation, and expand its footprint across and beyond Canada.Led by CEO Oliver Lang, Intelligent City offers integrated one-stop solutions to design and pre-fabricate sustainable, net-zero, multi-family urban green buildings at low costs for both owners, operators, and tenants. The company’s Platforms for Life (P4L) solution incorporates mass timber, design engineering, Passive House performance, automated manufacturing, and proprietary parametric software. Intelligent City’s end-to-end, product-based approach uses proprietary parametric software for design, construction cost estimation, carbon footprint confirmation, material quantifications, and precision manufacturing. At the same time, the company’s manufacturing technology brings automation to the prefabrication of building components. As a result, the company provides data on the life cycle and performance of the building before construction even begins.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.With a pipeline of more than 2,300 homes, Intelligent City is supported by leading developers in Vancouver, Toronto, Ottawa, and the United States, including two high-rise projects in Downtown Vancouver, one of which is supported by the BC Mass Timber Demonstration Program. The company was previously granted funding by the CleanBC Building Innovation Fund, the National Research Council of Canada’s Industrial Research Assistance Program (NRC IRAP), and Natural Resources Canada’s Breakthrough Energy Solutions Canada program (BESC). The technology platform has also been awarded the Solar Impulse Efficient Solution Label.19/07/2022
