Factory_OS, a Mare Island, CA-based multifamily housing design company, raised $55m in Series B funding.
The round was led by Lafayette Square with participation from Autodesk, Citi, Facebook, Google, and Morgan Stanley.
The company intends to use the funds to:
- ramp up manufacturing in its second Mare Island facility;
- invest in robotic and other advanced technology initiatives for both facilities;
- expand into Los Angeles; and
- open a housing innovation center.
Led by Rick Holliday, CEO, Factory_OS takes an integrated, industrialized and tech-enabled approach to removing barriers throughout the housing development process. The company has an active research and development program and incorporates design, technology, construction and workforce innovations.
Factory_OS has built nearly 1,000 units to date. Through its partnership with the Northern California Carpenters Regional Council, the company employs 500 union workers earning competitive wages and benefits.
FinSMEs
23/11/2020