Construction tech startup Litehaus has raised €1.46 million ($1.58 million) in a pre-seed round co-led by Cornerstone VC and Explorer Fund. Claster Group and angel investor Pascal Levy also participated in the pre-seed round. The fund will help simplify the home-building process in Europe.
Husband-and-wife duo Thibault and Simi Launay set out to buy a house in Portugal nearly five years ago. However, they faced a 14-month delay, 20% budget overruns, and mismanagement involving over 10 subcontractors. “We realized if we’re struggling with this, so are millions of others,” Thibault told TechCrunch. So, the idea for Litehaus was born.
The name “Lite” and “Haus, highlights light and innovation in home foundations. “We embrace a ‘less is more’ philosophy, crafting energy-efficient units with lower running costs,” it says on its LinkedIn page.
What does Litehaus do?
Litehaus is a platform that connects landowners and developers with architects, contractors, and designers, allowing people to track costs, progress, and project timelines. The startup specializes in innovative construction solutions, including as 3D-printed modular homes and sustainable building technologies.
Thibault says Litehaus’ homes are 30% cheaper, 40% faster, and with 60% less environmental impact. “That meant 90% less waste and 50% less CO2 emissions compared with traditional construction,” he adds.
It currently has one US construction company in its network as it seeks to expand the company in the country. However, its priority is to become “Europe’s fastest-growing construction tech startup,” according to Thibault.
$1.58 million fund
The startup received $1.58 million in a pre-seed round co-led by the UK’s Cornerstone VC and Explorer Fund, one of Portugal’s most significant private equity funds, Claster Group.
“When I first met Thibault and Simi, I was struck by their compelling vision: to make building a home as simple as buying one, catalyzing the construction industry to bring greater transparency, sustainability, quality, and trust to the home-building process.” Rodney Appiah, a managing partner at Cornerstone VC, said.
Image: Thibault and Simi Launay
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