The construction company of Lucas Carné and José Manuel Villanueva raises 25 million

A new way of building is possible; or so defends 011h, a "new generation" construction company that bets on the use of sustainable materials founded by two successful entrepreneurs from the Barcelona ecosystem: Lucas Carné and José Manuel Villanueva, creators of Privalia. This startup has just closed its first Series A round, in an operation that has allowed it to raise 25 million euros led by the Redalpine fund. Breega and the impact fund Seaya Andromeda have also participated, in addition to the initial investors, which include Foundamental and A/O Proptech.

The resources raised will allow 011h to advance its growth plans and improve its digital platform and the innovative construction system used by the company, which bets on industrialized construction and the digitalization of each of the components involved in a project. According to the firm, with this method, CO₂ emissions can be reduced by 90% and construction times shortened by 35%.

The promoters of 011h believe that the construction industry needs a radical change, as it uses "unsustainable materials such as concrete and steel" and is based on the use of artisanal methods that require a lot of labor in a context of scarcity and low professional qualification. "As a consequence, residential construction has become expensive, unreliable, and difficult to scale," denounce the entrepreneurs, who also advocate for a move towards a sustainable construction model due to the need to curb climate change. "Buildings generate around 40% of global CO₂ emissions," they point out.

011h bets on using materials such as wood and incorporating the principles of the circular economy into construction. However, its model is mainly based on an intensive use of technology, which means digitalizing the entire construction process, so that, for example, before starting a project, it is known exactly how many nails will be used.

"We are truly very satisfied with the evolution of the 011h project. We have received great support from renowned funds, which allows us to continue promoting the creation of a sustainable world thanks to the development of carbon-neutral buildings. All of this through the industrialization and digitalization of the design and construction process, together with the adoption of sustainable and circular principles and materials, such as certified wood," explains José Manuel Villanueva, co-founder and co-CEO of 011h, regarding the closing of the Series A round.

The injection of funds will also allow the company's workforce to increase, which is expected to reach one hundred people in the coming months. 011h has just completed the construction of a building in L'Hospitalet de Llobregat, called Life Habitat, in alliance with the real estate company Renta Corporación. According to the company, it is "the first sustainable residential high-rise building in Spain made with an industrialized and digitized system of components."

Currently, with the developer Aedas Homes, 011h is building a 51-sustainable-home building in Sant Juan de Alicante called Fioresta. In its portfolio, it claims to already have new projects that will lead it to the construction of 100 new sustainable homes in 2022, while for 2023 it plans to double that figure.

"If the global urban growth rate continues at its current pace, a city the size of New York will need to be built every month for the next 40 years. This is unsustainable with the current model due to the sector's low productivity and its high contribution to CO₂ emissions. The closing of this financing round will allow us to advance towards our mission: to lead and accelerate the sustainable transformation of the sector," says Lucas Carné, also co-founder and CEO of 011h.

The Series A round has had the Swiss fund Redalpine as its main protagonist, which has also invested in the neobank N26 and has more than one billion Swiss francs under management. In parallel, the Seaya Andromeda fund has 300 million euros allocated to companies that develop new projects in the field of sustainability and the circular economy. Finally, Breega, which has 500 million euros to invest, also aims to help "purpose-driven" entrepreneurs execute business ideas that have a real impact.

"At Redalpine, we believe there are an infinite number of great opportunities around sustainability. In fact, our commitment in this regard is so important that we do not seek investments that represent incremental improvements to the status quo, but rather teams with the vision and ambition to transform industries and solve the global challenges we face. Construction is one of the least sustainable and least digitized sectors of the economy, and 011h's vision is exactly what we were looking for," said Harald Nieder, partner and director of Redalpine.