Housing Startup indieDwell raised $5.7 mln in Series A Funding

IndieDwell, a Denver-based housing startup, has raised $5.7 million in Series A funding to bring affordable housing to millions.

The round was co-led by HMS Development and Bastogne Development Partners, two firms specializing in boosting the development of the real estate industry and neighboring communities. The startup has now raised a total of $7.6 million since being founded in 2018, which has allowed it to grow significantly ever since. Ndamukong Suh, President of HMS Development, said about the firm’s participation in the round:

“We believe that attainable living is a crucial step in both individual and communal growth, which is why we are so proud to partner with indieDwell to offer turnkey development and construction solutions to communities across the country.”

IndieDwell has been addressing the increasing housing crisis in the United States by offering affordable housing via their energy-efficient, durable, and sustainable homes. The startup also partners with local communities to open factories that not only provide competitive benefits to locals but also allows them to create affordable housing for those who need it.

At this time, the indieDwell has a 100k square foot factory in Pueblo and is planning to open a new one in Newport News in the near future. The startup has also made it clear that it is planning to continue its expansion, with additional factory locations already being planned and expected to be announced in 2022. indieDwell CEO Christina Ortiz Bluth said in this regard:

“We are thrilled with our new investor partnerships as this capital comes at a time when our sales pipeline is strong, therefore helping fuel our growth initiatives. The cost and availability of housing is among the top list of concerns across our country and we look forward to using this momentum to continue increasing the affordable housing inventory and creating jobs that pay livable wages.”

It is estimated by Habitat For Humanity that about 30% of American households were “housing cost-burdened” in 2019. With recognition from the Ivory Prize, The Harvard Joint Center for Housing Studies, and the Terner Center for Housing Innovations, the housing startup believes it can help solve this crisis by reducing the costs associated with housing.