This is how Unicorn is built: the construction company that joined the billionaires' club

A $ 400 million fundraiser, led by the BOND Foundation, has joined Israeli Veev to the prestigious unicorn club and signaled that even when the market seems a bit chilly, companies that present true innovation are in demand in any situation.

Its company, with about 350 employees, is expected to double the number of its employees, following the investment

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01/03/2022

Tuesday, 01 March 2022, 14:53 Updated: 15:59

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Construction technology company Veev announces the completion of a $ 400 million round of funding, and announces its joining the Unicorn Club.

Veev, a construction technology company, has announced the completion of a $ 400 million round of funding in Round D. The current round puts the company’s value at over $ 1 billion, giving it unicorn status.

The current round has been led by the BOND Foundation, with the participation of LenX, Zeev Ventures, Fifth Wall Climate Tech, and JLL Spark Global Ventures

. The Israeli Development Center has 100 additional employees, as well as accelerating R&D initiatives that will enable the production of high-quality Veev homes, in a more efficient, cost-effective and sustainable manner.

Founded in 2008 by developers Amit Heller, Ami Avrahami and Dafna Akiva, Veev is a construction technology company that provides a solution from the planning stage to execution, using an economical and efficient construction method based on modular construction, and the production of houses and an exceptional living experience.

Veev's construction method is based on the production of complete and enclosed walls in the factory, which include all the systems - plumbing, electrical and other mechanical and technological systems.

The enclosed walls, which have been inspected and approved at the factory, are transferred to the construction sites and assembled easily, using Veev's advanced Plug & Play system.

The company has offices in San Mateo and Tel Aviv and employs about 350 people, of whom 100 work in the development center in Israel, and following the current recruitment, the company is expected to double in size in the coming year.

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Amit Heller, co-founder and CEO of Veev (Photo: Veev)

Changing building codes

Traditional methods in the construction world have been shown to be incapable of resolving the global housing crisis.

According to the U.S. Census Bureau, the U.S. has a deficit of 7 million housing units - with a deficit of 3 million units in California alone. Significant innovation, like that of Veev, is needed at every stage of the construction process - from materials, through construction methods to partnerships.

After re-examining the construction process, Veev has created a more successful process than is customary in the traditional market. First, higher quality construction by using lightweight steel foundations (LGS) to shell cladding from HPS.

Improvement in construction speed, reached a rate 4 times higher than what is customary in traditional construction, which significantly lowers construction costs.

In addition, Veev uses sustainable materials.

Ami Avrahami, Co-Founder and Chief Product Officer at Veev: "The Unicorn status places Veev at the forefront of the global construction technologies market. California, completed in just 90

days.Veev re-created the entire home construction process by thinking home-as-a-product, the home as the ultimate consumer product. By rethinking every element of the home, including design, materials and built environment, and integration "Full of the construction process from beginning to end, we have been able to produce homes with quality, speed, value and sustainability that has not been seen in the industry - until now."

Veev will fundamentally change the way we build and experience homes in the United States, and in the world at large.

Ami Avrahami, Co-Founder and Chief Product Officer at Veev (Photo: Veev)

About Veev

Veev is a construction technology company founded on the belief that homes are the ultimate, first-rate consumer product, and as such should be built better and faster.

Veev has an integral process that includes planning, design, development, engineering, factory production and construction in the field, which results in improved cost and quality of homes, which are built four times faster than traditional construction.

Veev focuses on building multi-family homes and single-family homes, to help develop and support communities, and improve their quality of life.

Veev employees opened trading on the stock exchange last year.

Join the Unicorn Club (Photo: Yachz)

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• Building