Blu Homes Raises $12.5M
Blu Homes, a Waltham, MA-based green prefab builder, has raised $12.5m from private investors.
Investors include board member Tim Disney.
The company intends to use the funds to expand its engineering and manufacturing capacity, grow the team and develop additional products.
Founded in 2007 and led by CEO Bill Haney, Blu Homes designs and builds eco-friendly, prefabricated homes using its proprietary 3D modeling and steel-framing technology. It currently has seven homes lines, including its newly released Breezehouse, and employs 90 people between its Boston, Ann Arbor and San Francisco offices, its western Massachusetts factory, and regional sales people.
Blu expects to open a second manufacturing facility by the end of 2012.