Apis Cor, a construction tech startup that uses 3D printing and robotics machinery to produce buildings, today announced launching a $35 million fundraising campaign, according to a press release shared with FinLedger.
The company says it plans to use funding to expand its workforce, fleet of printers and bulk trucks, and to establish multiple 3D printing material batching plants. It also said it plans to utilize the capital for ongoing product improvement and development.
“Following our extensive R&D, market validation, and proven track record of landmark projects, we are now ready to go to the next stage; scaling and growth,” said Anna Cheniuntai, Apis Cor founder and CEO.
Founded in 2014, Apis Cor currently holds the Guinness World Record for largest 3D printed building after teaming up with the Dubai Municipality to create the world’s first 3D printed home.
Now, the company says it hopes to leverage its funding and relationship with Rialto Markets‘ broker-dealer crowdfunding platform and infrastructure to enter a new growth period. It says this includes its aim to reach $450 million in revenue by 2027 through the deployment of 400 printers.
“Apis Cor is developing pioneering and potentially disruptive technology, backed by ambitious growth plans. We’re delighted it has chosen to work with Rialto Markets to build on its success and give investors the chance to take equity in an exciting sector,” stated Rialto Markets co-founder and CEO Shari Noonan.
FinLedger recently spoke with Brian Ostrowiak, Senior Vice President at Closepin, about the challenges of connecting to settlement agents.
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Apis Cor says the relationship with Rialto also offers access to its secondary market alternative trading system (ATS), which it says empowers the buying and selling of shares in private companies. It says this ATS operates similarly to the Nasdaq and NYSE, and allows private companies to access funding, investors and ultimately flexible liquidity for its holdings.
In addition to its these building accomplishments, Apis Cor also built the first permitted 3D printed commercial building in the U.S., and was a finalist (alongside SEARch+) in the 3D-Printed Habitat Challenged organized by NASA to find technologies to create inhabited environment on Mars.
In other recent proptech news, Walker & Dunlop announced a new partnership with Miami-based lender Metro Fund to expand into South Florida. Archistar also acquired Snaploader as part of its upcoming U.S. expansion.