London-based 2150, a venture fund focused on sustainability and urban technology, led a $48M (approximately €47.36M) round of US-based Nabr, a consumer product company that creates a digital design and delivery system for its clients to make housing choices.
The firm says it will contribute to bringing sustainability innovation and high quality of life that defines the Scandinavian housing sector to the US.
Jacob Bro, a partner at 2150, says, “Real estate is responsible for around 40 per cent of global CO2 emissions and is the only industry where the product gets more expensive with time with detriment to society, the industry is in dire need of innovation. By reimagining how we design, build, and finance urban homes aligned with the customer and the environment, Nabr aims to tackle this key issue of our time.”
“We think Nabr’s visionary product strategy will help catalyse a much-needed cultural shift, helping cities move beyond the carbon intense suburban sprawl that has defined US new housing for the last half-century,” adds Jacob Bro.
2150’s Impact Report, demonstrated that its strategy for investing is producing positive results. By the end of the first quarter of 2022, the firm’s portfolio had already reduced CO2 emissions by 20.8 tonnes for every tonne that was produced, or 277,000 tonnes annually. 2150 believes these are effective solutions that have the potential to grow considerably in the upcoming years.
According to the firm, there’s more to sustainability in cities than just lowering emissions. A comprehensive investment strategy that prioritises adaptability, biodiversity, and socioeconomic advancement together with climate mitigation is required to achieve true urban sustainability.
“Sustainable apartments you can design and own on your terms”
Nabr is a direct-to-consumer housing company and the first to deliver custom, sustainable apartments at scale. The company’s goal is to put more people on a path to owning a high-quality, environmentally friendly home in the city.
The company was co-founded by Bjarke Ingels (founder of architectural firm Bjarke Ingels Group), Roni Bahar (formerly of WeWork), and Nick Chim (co-founder of Flux, a spinout of Google[x]). Nabr was launched in December 2021, offering the opportunity to join a waitlist for its future developments.
Nabr says it will use the funds to prepare for the fall season’s sales and for buying more parcels to satisfy customer demand. A portion of the funds will also be used to acquire three development sites in Downtown San Jose’s SoFA District. This land will feature 500 for-sale residential units, which includes SoFA One, in addition to two other buildings, SoFA Two and SoFA Three.