Vancouver-based green construction startup raises $33 million in new funding

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A Vancouver-based startup pioneering a green construction technology announced this week it has successfully raised about $33 million in its fourth round of funding, ending in Fall 2020.

This brings Nexii Building Solutions’ total funding raised to date to over $66 million, with the latest infusion in funding to be used to expedite the opening of a new production facility in Squamish, expand its manufacturing partner program, and continue research and development.

Founded in 2018, the company developed Nexiite, which is a proprietary material that can replace the use of concrete in certain applications for new building or renovation projects, resulting in significantly lower carbon emissions.

This material, when paired with the company’s design and assembly process, can reduce construction timelines by up to 75%, lower construction costs, and eliminate the need for scaffolding.

Additionally, between 60% and 85% of the process is built off-site in factories, allowing for assembly in any weather conditions with fewer delays, and a reduction in on-site construction waste. The company also states Nexiite is durable and safe, and resistant to fire, water, mold, mildew, and insects.

“The construction sector has a staggering effect on the environment and is just at the brink of a new revolution in green technology,” said Stephen Sidwell, CEO of Nexii, in a statement.

“Not only must we consider the construction or retrofitting of a building, but also the environmental costs of ongoing maintenance. Our material technology and building systems are a huge step forward in reducing climate pollution and we are motivated by the opportunity to be a driving force in the green economy.”