Green ConTech Startup Nexii Receives $40 Million Venture Loan

Nexii expects to use the venture loan proceeds for general growth and working capital purposes.

Nexxi

On the heels of the announcement that Nexii is the fastest Canadian company to reach unicorn status, Nexii has received a $40 million venture loan. 

The loan comes from Horizon Technology Finance Corp., a finance company that provides capital in the form of secured loans to venture capital backed companies in the technology, life science, healthcare information and services, and sustainability industries, along with lending partner Trinity Capital Inc., a provider of debt and equipment financing to growth stage companies.

Nexii is a green construction technology company focused on creating environmentally-friendly, durable, cost-efficient and disaster-resilient buildings.

Under the terms of the agreement, Horizon and a private investment vehicle provided Nexii with $22.5 million and $7.5 million, respectively, while Trinity provided $10 million. Nexii expects to use the loan proceeds for general growth and working capital purposes.

“Nexii’s advanced building solutions and environmentally conscious construction materials and methods are bringing game changing innovation to the construction industry, reducing project build times and costs, while ensuring buildings are more efficient, sustainable, and resilient to climate impacts,” says Gerald A. Michaud, president of Horizon. “We are excited to support Nexii as it seeks to further expand its market share in the construction sector.”

“We are proud to partner with the team at Nexii, whose mission to build a vibrant future for the people and planet is combined with a quantum leap in building technology,” says Ron Kundich, senior managing director of Trinity Capital. “We’re all aware of the ongoing effort to transition to a zero-carbon economy, and Nexii’s innovative approach positions them at the forefront of sustainable buildings, which require fewer resources, produce less waste, and use non-toxic materials for healthier living.”

“Two leading venture and growth stage lenders, Horizon and Trinity, have come together to partner with Nexii, and we are so thankful to have their support,” says Stephen Sidwell, co-founder and CEO of Nexii. “With this funding, we are able to further expand our project capacity, increase the speed of delivery for our transformative green building solutions, and take a step forward towards realizing our goal of having sustainable construction technology in every sector of business and every area of the world.”