Factory_OS, a Mare Island, Calif.-based home construction startup, received strategic investments from Autodesk, Inc. (NASDAQ: ADSK) and Citi (NYSE: C).
The amount of the deal was not disclosed.
Led by Rick Holliday, CEO, Factory OS is a volumetric modular construction startup operating in the SF Bay Area, which is building multifamily homes.
With this investment, Autodesk expands its existing relationship with Factory_OS by supporting the build out of the Factory Floor Learning Center, a space dedicated to education and research on industrialized construction and changes needed in public policy to optimize its benefits. This work will be led by the Terner Center for Housing Innovation. The investment will also help establish a team to scope and build a new Rapid Response Factory. This second factory space offers an opportunity to both explore additional machining techniques and to meet the demand of quick turnaround housing needed after natural disasters and emergencies. Together, Autodesk and Factory_OS will provide software collaboration to streamline design, fabrication and supply chain management.
Citi is backing Factory_OS through its Spread Products Investment Technologies (SPRINT) initiative within the ICG division, which formed in 2018 to invest and engage new technology partners, and Citi Community Capital, the bank unit through which Citi works to finance all types of affordable housing and community development projects.