indieDwell Announces $5.75 Million in Series A Financing

DENVER, Sept. 30, 2021 /PRNewswire/ -- indieDwell, a modular manufacturer of affordable housing, today announced it has secured $5.75 million in Series A financing. The round was co-led by HMS Development, which seeks innovative projects to expand the value of their neighboring communities and build generational wealth, and Bastogne Development Partners, a development and advisory firm specializing in real estate projects that deliver social impact.

indieDwell, a Certified B Corporation, was founded in 2018 to help address the housing crisis by providing affordable, healthy, durable, energy efficient and sustainable dwellings. The company partners with local communities to open factories that pay a living wage, offers competitive benefits and on the job training, to ensure those employed by the factories can build wealth while also building affordable housing for those in need. 

"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," said indieDwell CEO Christina Ortiz Bluth. "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."  

"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," said Ndamukong Suh, President of HMS Development.

indieDwell is currently operating a 100,000 square foot factory in Pueblo, Colorado, and in May 2021, announced plans to establish a facility in the City of Newport News, Virginia. The company, which focuses on residential construction and has built everything from emergency housing for COVID-19 to commercial multi-family housing, plans to announce additional factory locations in 2022.

"We have looked at the modular housing market for a long time and have evaluated many companies in this space," said Dave Foster, CEO of Bastogne Development Partners. "indieDwell is the only company that met all of our criteria, which included completing projects across all building types and in several states."

The company has been recognized by the Ivory Prize, The Harvard Joint Center for Housing Studies, and the Terner Center for Housing Innovations.

About indieDwell

indieDwell, a certified B Corporation and certified GoodWell company, manufactures healthy, durable, energy efficient and sustainable modular houses, with a mission to help solve the affordable housing crisis, while empowering communities and improving the health of the environment.

Media Contact
indieDwell
Pete Gombert, Executive Chairman
208-867-4300
[email protected]
www.indiedwell.com

SOURCE indieDwell