New funding: Nexii — a Vancouver, B.C. startup with the distinction of being Canada’s fastest company to ascend from launch to unicorn status — has raised a new $35 million round. The company said that its current valuation is nearly $1.6 billion.
The funding round was led by Horizon Technology Finance and Trinity Capital. The company previously raised $45 million in September 2021.
The technology: Nexii’s buildings reduce construction waste and have a smaller carbon footprint in their build and operation. The company has developed Nexiite, a green alternative to concrete, which is traditionally made in a carbon-intensive process.
In February, the startup announced that it was opening its first U.S. manufacturing site in Pennsylvania. Its customers include Starbucks, Popeyes and Marriott. Nexii also shared news this year that in partnership with Siemens it had developed an electric vehicle charging prototype that uses Nexiite.
Climate impacts: Nexii construction and building materials have a 31% smaller carbon footprint than conventional approaches using steel and traditional concrete, according to the company and a third-party life cycle assessment.
“Nexii is part of this wave of change to make the [construction] industry more efficient and green and affordable,” said Gregor Robertson, executive vice president of strategy and partnerships, in an earlier GeekWire interview.