Light Ray Ventures had participated in the Series B round of Plant Prefab, a US company that manufactures prefabricated homes

The Company has raised $30 million of funding co-led by Asahi Kasei Corporation and Paris Ventures. The funding round saw the participation of existing investors,including Amazon Alexa Fund, Obvious Ventures and Ferguson Ventures. With this financing, Plant Prefab today announced the opening of a second factory in Ontario, California and the construction of a third factory, set to open in 2022

The Plant Building System enables Plant Prefab to build custom single-family and multi-family homes 20-50% faster than traditional building methods with up to 30% less was teat a 10-25% cost savings in major cities. The company’s third, automated factory will serve as a central production hub to existing and future Western U.S. factories, utilizing sophisticated new equipment to achieve even greater production velocity with quality assurances and a level of material efficiency unmatched by any other home builder

Managing Partner of Light Ray Ventures Alex Tsyplakov said: «Light Ray Ventures investment thesis on the construction is that we will see a lot of innovations coming there. We believe that the deployment of technology, both digital and physical, will enhance productivity at scale, making this a new industry standard. We like the Company is addressing the precisely exact pain-points of the industry being interoperability of the design and construction, timing and over budgeting»