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Veev , a real estate developer ferment tech - enabled homebuilder , is on the verge of shut down afterreaching unicorn status last class , according to multiple write up .
Calcalistreportedon Sunday that the company — which raise $ 600 million in total,$400 million of which was securedin March of 2022 — has to shut down after an “ abrupt cancellation of a capital - raising first step . ”
actual estate developer turn prefab home builder Veev close down on $ 400 M in fresh support
Bond ledVeev ’s 2022 round , which also include involvement from LenX ( formerly Lennar Ventures ) , Zeev Ventures , Fifth Wall Climate Tech and JLL Spark Global Ventures .
TechCrunch has reached out to Veev for comment but had not try back as of press time .
found in 2008 , Veev Group started its animation as a traditional material estate developer and asset director . During its sentence develop property , it found young way to better the building process , harmonise to CEO and co - beginner Amit Haller . In 2017 , Veev Group start out to focus on prefabrication capabilities , and by 2018 it officially pivot to what it delineate as “ a vertically incorporate developer focalize on building innovation . ” In 2019 , the company name changed from Dragonfly Group to Veev .
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Ironically , when TechCrunch spoke to the troupe in March of 2022 , executive appeared undiscouraged by the demise of Katerra , a SoftBank - backed construction tech inauguration that essentiallycrashed and burnedin 2021 after raising over $ 2 billion in funding . Haller said at the time that Katerra had posed itself “ as a full - great deal supply chain company , adoptingprefab construction technical school to further its efforts . ”
He added : “ Veev ’s occupy a dissimilar approach shot , where the product — the home — came first . And the next microscope stage for the party has been to scale by replicating the success of its Digital Fab near regional requirement . ”
In November of 2022 , Calcalist also describe that Veev hadlaid off around 100 employees , or about 30 % of its men . At that time , the troupe reportedly had around 350 workers , including 100 in Israel .
It ’s not the first startup bankruptcy for Veev co - founders Heller and Ami Avrahami . Another one of their proptech venture , Reali , began a shutdown in August of 2022 afterraising more than $ 290 million in debt and fairness funding . Zeev Ventures was also an investor in that society .
