Intelligent City Inc. is pleased to announce it has closed a CA$3.1M financing round consisting of equity led by Fulmer & Company and credit provided by the Business Development Bank of Canada.
Intelligent City is focused on the construction of multi-family urban housing through the convergence of mass timber, design engineering, Passive House performance, automated manufacturing, and proprietary parametric software. The company’s transformative approach is based on Platforms for Life (P4L), a scalable and adaptable proprietary technology platform created to deliver highly desirable urban housing offering a new level of affordability, longevity, environmental and social sustainability.
“BDC is extremely excited to partner with Intelligent City and support its commercialization as a leader in CLT mass timber construction for the urban multi-family housing market” said Richard Turner, Senior Account Manager at the Business Development Bank of Canada. “We believe their unique platform designed to create affordable, desirable, and carbon-neutral buildings can offer a compelling solution to the urban housing crisis faced by many cities across North America and globally” added Yuri Fulmer, Chairman of Fulmer & Company.
Founded in 2008, Intelligent City’s mission is to empower people to live better urban lives. The company has been a leader in innovative urban housing, sustainability, building technology and design methodology and has gained municipal approvals and broad government support for its mass timber building system and technology development. Currently, the company is working on several significant projects in the Pacific Northwest with constructions planned to start in 2020.