R-Hauz Solutions, a Toronto, Canada-based real estate product startup, closed a C$4.5M seed funding round.
Backers included BDC Capital, R-LABS, corporate investors, and several angel investors from the Toronto real estate industry.
The company focuses on delivering high-quality, purpose-built housing by integrating design and mass-production techniques from manufacturing and automotive industries with City planning frameworks.
The company intends to use the funds to accelerate the development of its design-for-assembly strategy and continue investing in streamlining the housing delivery process.
Founded in 2017 by Michael Barker and George Carras, R-Hauz, is a real estate startup creating high-quality housing. The company provides laneway housing and six-storey townhomes made from mass timber and prefabricated panels—designed and manufactured straight from the factory to be assembled on-site.
In 2020, R-Hauz commenced its purpose-built rental housing pilot, the first six-storey all wood mass timber residential building in Ontario, a 26,000 square foot residential project located in Toronto, expected to be completed by the end of the year. The company has secured strategic partnerships with local developers, institutional affordable housing developers, and municipal agencies to develop and deliver market-rate and affordable housing across the Greater Toronto-Hamilton Area.