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Business Management Review | Tuesday, April 19, 2022
Veev is currently focusing on high-performance multifamily and ADU (accessory dwelling unit) products for the San Francisco Bay Area. The current development pipeline totals exceeding 230 units and 620,000 gross building square feet
FREMONT, CA: Veev Group, an integrated real estate developer, raised $97 million to date and closed its Series B funding round. The round was co-directed by Zeev Ventures and Lennar Ventures, which move Lennar Corporation's technology and innovation strategies.
The funding contains $85M in equity and $12M in debt and will be used to accelerate the development of the Veev panelized building system and scale the business. Additional funding participants include Green Spring Associates, Eclipse Ventures, and Khosla Ventures, with Western Technology Investment as the debt provider.
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"Our investors add strategic capabilities that aid us to accelerate our growth and product performance to deliver residential housing solutions to market quickly," said Amit Haller, CEO, Chairman, and Co-founder of Veev. "We continue to develop the Veev panelized building system and global operational capacity to deliver on our vision of exceptional living for all."
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The Veev panelized building system is manufactured off-site in a quality-controlled digital fabrication facility. It is shipped to the real estate project location and assembled onsite in a fraction of the time of traditional construction. As a result, factory-built housing promises to reduce time, waste, and cost and improve residential buildings' quality and economics.
A digital home ecosystem.
"The Veev approach to buildings as a consumer product promises to improve quality and value for everyone," said Oren Zeev, Founding Partner, Zeev Ventures. "Currently, this is critical for California and other high-cost markets but will ultimately benefit all markets."
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