Falkbuilt closes $35m CAD Series A-2 funding round

Calgary-based construction technology company Falkbuilt Ltd. announced today they have closed a $35 Million CAD equity investment led by Stephens Capital Partners and RET Ventures, who led the previously raised $14 Million CAD financing for the company in 2020. This strategic investment will support Falkbuilt’s accelerating growth and increasing presence in the global market.

Founded in 2019, Falkbuilt is a world leader in Digital Component Construction with over 400 employees and 90+ Falkbuilt Factory Direct Branches in North America, the Middle East, and India. The interior construction manufacturing company uses next-generation technology to manufacture components efficiently and precisely in the factory and is the first, worldwide, to provide digital end-to-end, offsite prefabricated solutions from design, development, fabrication, and installation through its innovative Echo technology.

“This substantial investment not only validates our vision to solve legacy challenges in conventional construction, but is a testament to the strength of our management team, our Board of Directors, and every one of our employees”, says Gina Thornton, Chief Financial Officer of Falkbuilt Ltd.

Falkbuilt’s Digital Component Construction is the only viable solution to ongoing challenges facing the construction industry, such as material availability, price escalation, skilled labour shortages, and unpredictable schedules. The use of technology empowers Falkbuilt to respond to these challenges while providing customizable, sustainable, and cost-effective solutions.

"Despite the inefficiencies in construction, there are very few companies delivering products today that actually address the sector's pain points. Falkbuilt is one of the rare players making a significant impact in their field," said Christopher Yip, partner at RET Ventures. "With its offsite, pre-fabricated materials and Echo software, Falkbuilt improves the process for every stakeholder involved in interior construction, and the company is poised to continue its global market penetration in the years ahead."

Falkbuilt has experienced 100% growth year-over-year and is on track to achieve high-growth targets for fiscal year 2022 and onward. With this new investment, the company plans to expand operations through increasing manufacturing capacity, investing in their global network of Falkbuilt Factory Direct Branches, and further investment in their leading-edge Echo technology.

For more information, please visit www.falkbuilt.com.

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Hyatt builds portfolio with Dream Hotel acquisition

Hyatt Hotels has added a portfolio of 12 lifestyle hotels and 24 long-term management agreements over new properties to its roster through the acquisition of Dream Hotel Group on Thursday. Hyatt will incorporate the Dream Hotels locations into its Boundless Collection, and the Unscripted Hotels

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