Housing design and developer Intelligent City, founded in 2008, announced an additional $17 million in funding through a Series-A round to expand its work using robotics, automation, and prefabricated mass timber urban construction. With a previous $6 million raised, the total so far is $23 million.
"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," the company said in its release. "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."
Major investors include BDC Capital's Cleantech Practice, Greensoil PropTech Ventures, UIT Growth Equity GP, and Fulmer & Company. There was also participation by "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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