London-based TopHat, a technology-driven modular housing manufacturer, has announced that it has secured £70M (approximately €63.33M ) in a new round of funding from new and existing investors.
The announcement comes as the company nears completion of Europe’s largest modular housing factory. The factory will produce up to 4,000 ultra-low carbon houses per year.
Investors in this round
The investment came from FTSE-100 housebuilder Persimmon and institutional investor Aviva, through its Aviva Capital Partners unit.
Persimmon intends to leverage TopHat’s production techniques to supplement its existing Space4 timber frame product, drive further build efficiencies while increasing its product offering to clients, and assist efforts to fulfill the Future Homes Standard.
Aviva Capital Partners has invested in TopHat to support its sustainable community strategy.
The firm says, with the quality of TopHat’s manufactured homes, energy efficiency can help reduce long-term operating costs for both investors and households as well as protect consumers from rising bills.
About TopHat
Founded in 2016 by Jordan Rosenhaus and Krishan Pattni, TopHat claims to deliver beautiful homes, sustainably – “We use advanced manufacturing and the latest technology to deliver ultra-low carbon homes while keeping costs as low as possible.”
Its offerings include:
- a complete collaboration strategy that covers finance, planning, and turnkey delivery
- a turnkey construction service; and
- a manufacture, supply and install service
The company’s two main pillars, TopHat Industries and TopHat Solutions collaborate to deliver projects of “quality and standards”.
Besides, TopHat is also ISO-certified and offers insurance and warranty protections for its homes through a range of providers.
Recently, the company announced it has agreed to a £50M (approximately €56.38M) development deal with Man GPM Aalto, the private markets business group of Man Group, to develop 226 zero-carbon homes in Lewes, East Sussex.
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