3D Printed Housing Company Apis Cor Raises $200,000 in One Week Through Crowdfunding
Apis Cor announced on October 12 an important step in its crowdfunding campaign on Start the enginewith over 200,000 USD raised in less than a week.
The company states that its vision is to build accessible, affordable and sustainable homes. He is supported by At One Ventures and, as of September 1, 2022, the company has raised over $1.1 million from retail investors under its Reg A+ offering.
Venture capital funding for 3D printing start-ups in industries including aerospace, healthcare and housing hit $1.5 billion in the first half of 2022, but Apis Cor says it was limited to accredited investors and institutions.
Apis Cor has adopted the StartEngine crowdfunding platform as a way to open the door to funding from outside sources. Outside the world of 3D printing, modular home company Boxable raised over $3.5 million in crowdfunding in the summer of 2022.
3D printing housing projects have been completed by Apis Cor in Texas and Missouri, it has also signed pre-MOUs with companies to develop and 3D print affordable homes in New Orleans , Louisiana, and Wilmington, North Carolina. The company has received 117 letters of intent from construction companies across the United States that it says want to start using the Apis Cor robotic system for construction.
Apis Cor has designed 3D printed walls that comply with international building codes and recently received broad regulatory approval for its construction method in Montana, which became the first US state to grant such approval for 3D printing in building.
“This is how the construction industry is going,” said Apis Cor co-founder and CEO Anna Cheniuntai. “Based on our momentum, we believe much of the industry will shift to robotic or automated builders in the next five to ten years. Apis Cor homes are durable (hurricane and earthquake resistant ) and affordable – a finished home can be up to 30% cheaper than a traditionally built home. Our world needs more hard tech that creates tangible products, especially like housing and real estate assets.”
The company says the world will need more than two billion new homes over the next 80 years and at the current rate the demand will not be met. Apis Cor’s primary market is low-rise residential construction, including affordable housing and new high-end and mid-priced residential single-family homes.
Apis Cor’s business model is to rent its printers to construction companies and exclusively sell its 3D printing equipment as B2B. The targeted monthly equipment rental is $9,000, with the price of materials being $7 per square foot, bringing the cost of materials for a 1,200 square foot single family home to around $8,400.
Apis Cor claims that a contractor using the technology could 3D print the walls of four homes of this size per month, resulting in a profit of $13,500 per month. The company says that as of December 2021, it had received 183 requests to reserve its 3D printed homes and 3D printers.
Elsewhere in construction 3D printing, Black Buffalo 3D recently announced that its NEXCON printers and proprietary ink blend for 3D concrete have been approved by the ICC Assessment Servicemeeting AC509 requirements for load-bearing, non-load-bearing, and 3D-printed shear walls up to 40 feet in height.
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