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Housing Startup Gropyus Secures €100 Million for Expansion Plan

  • Germany’s largest landlord Vonovia leads funding round
  • Startup says its software system can squeeze building costs
Gropyus production robots.

Gropyus production robots.

Source: Gropyus

An Austrian startup that aims to streamline housing construction raised about €100 million ($109 million) in fresh cash from a group of investors led by Vonovia SE, Germany’s largest landlord.

Gropyus AG will use part of the Series B funding to expand its factory in southwest Germany, according to Chief Executive Office Markus Fuhrmann. The Vienna-based company targets output of 250,000 square meters of timber-based homes per year by 2024. That’s equivalent to about 4,000 one-bedroom apartments.