Mighty Buildings, an Oakland, Calif.-based construction tech company, raised $40m in Series B funding.
The round was led by Khosla Ventures and co-led by Zeno Ventures, with participation from returning investors Bold Capital Partners, Core Innovation Capital, and Foundamental. New investors included ArcTern Ventures, Abies Ventures, Modern Venture Partners, Giant Ventures, MicroVentures, One Way Ventures, Polyvalent Capital and others.
Mighty Buildings was also included in Y Combinator’s Top companies list as a result of the round. To-date, the company has raised more than $70m in total funding.
Led by Slava Solonitsyn, CEO and Co-Founder, Mighty Buildings is a construction technology company applying automation and innovative new technologies to cut time and labor hours. The company works with compliance and regulatory agencies to develop future-forward materials that are tested to rigorous standards with nearly zero waste production methods. Projects range from pre-designed accessory dwelling units (ADUs) for homeowners to residential developments using their Mighty Kit System for the nation’s largest homebuilders.
The company plans use the funds to accelerate growth, expand the team, continue to scale their production capacity with increased automation, and build out their B2B platform for developers with sustainability as a core focus.