Modulus Housing
Overview
Modulus Housing is a Chennai-based startup specializing in modular construction technology. It was founded in 2015 by IIT Madras alumni Shree Ram Ravichandran and Gobinath P. The company is known for producing foldable cabins and portable infrastructure solutions designed for rapid deployment. Modulus Housing has raised funding over several rounds to expand its operations, focusing much of its efforts on healthcare and disaster relief sectors.
Recent Developments
- December 2023: Modulus Housing secured a ₹65 crore order from the Bihar government to construct 20-bed hospitals across various locations. This initiative is part of a larger potential project with an anticipated value of around ₹400-500 crore. The project emphasizes rapid construction capabilities, completing setups in just a few days.
- Late 2023: Modulus Housing expanded its foothold internationally by fulfilling its pilot export order to Malawi, East Africa, and aims to extend its operations into South Africa.
- 2023: The company announced its participation in the Series A funding round with Japanese venture capital firm Enrission India Capital contributing to the round. This funding is aimed at scaling its operations and increasing its international reach.
- During the COVID-19 pandemic, Modulus Housing developed 'MediCAB,' a portable hospital unit, as a solution to meet the urgent healthcare infrastructure demands in India. The product was deployed rapidly across 21 states, addressing the shortage of hospital beds.
Company Information
| Attribute | Information |
|---|---|
| Founding Date | 2015 |
| Headquarters | Chennai, India |
| Founders | Shree Ram Ravichandran, Gobinath P |
| Revenue | $4.89 million (as of March 2023) |
| Profits | Not publicly disclosed |
| Key Investors | IIT Madras Incubation Cell, Enrission India Capital |
| Industry | Modular Construction |
| Number of Employees | 51-200 |
Early History
Modulus Housing emerged from the combined vision of Shree Ram Ravichandran and Gobinath P during their time at IIT Madras. Their initial impetus for creating modular housing came from their volunteer work during the 2015 Chennai floods. They identified the need for quick-deploy, temporary housing solutions for disaster relief, leading to the conceptualization of their first modular prototype. Funded initially by family and winnings from innovation competitions, they were able to establish a foundation for their company. Initial pilot projects included providing housing for construction workers and enabling rural healthcare infrastructure.
Company Profile and Achievements
Modulus Housing operates by utilizing advanced technological solutions to provide portable and rapidly deployable infrastructure. Their flagship products include 'Foldable Cabins' and 'MediCAB.' These structures are designed to be highly adaptable, capable of being assembled and disassembled with speed and efficiency. Key milestones include:
- Development and deployment of around 3,000 MediCAB hospital beds across India during the pandemic.
- Strategic partnerships with major corporates like TATA, Lenovo, and Shapoorji Pallonji for various projects.
- Expansion into international markets with initial ventures in Africa, indicating global ambitions.
- Recognition for innovative solutions in modular construction, which continues to provide cost-effective alternatives to traditional building methods.
Current Operations and Market Position
Today, Modulus Housing holds a prominent position in the modular construction industry within India, especially in healthcare and disaster relief applications. The company leverages its cutting-edge modular technology to deliver infrastructure solutions in record times, which is a significant competitive advantage. Modulus continues to expand its operational capability, seeking international partnerships and opportunities to meet the global demand for efficient construction solutions.
Conclusion
Modulus Housing has made significant strides in modular construction by offering revolutionary solutions like the MediCAB to address both disaster relief and broader infrastructural needs. Their approach to quick assembly and portable infrastructure makes them a critical player in regions needing rapid construction solutions. As they continue to grow their international footprint and refine their product offerings, Modulus Housing is poised to have a lasting impact not only in India but globally. With ongoing strategic expansions and recognized achievements, the company stands ready to tackle future challenges in the construction industry.