Chennai-based 3D printed construction startup Tvasta Manufacturing Solutions Ltd has said, “Habitat for Humanity International has invested Rs 3 crore ($411,000) through Shelter Venture Fund to increase production of affordable 3D printed homes in India.”
Hestia Partners and Capnetic Investments also invested an undisclosed amount in Tvasta.
The company in its statement said, “It will utilize the funding to boost in-house research, launch multiple product lines for different solutions, and scale up Construction 3D Printing Technology across India.”
“The funding will also help execute current orders and expand project execution capabilities for undertaking larger projects,” Tvasta added.
Speaking on the fundraise, Patrick Kelley, vice president of Habitat’s Terwilliger Center for Innovation in Shelter said, “The pandemic has only exacerbated the affordable housing crisis, with rising demand as well as material costs.”
“Through the Shelter Venture Fund, Habitat is helping ensure that the most promising, disruptive technologies achieve scale, expanding affordable housing markets to reach more low-income families in need of reliable housing,” Patrick added.
Founded in 2016 by IIT-Madras Alumni Adithya, Vidyashankar & Parivarthan, has developed a ‘Made in India’ technology focusing on leveraging automation and robotics in 3D printing platforms for faster, economical, and sustainable construction compared to conventional technologies.
Habitat’s investment in Tvasta builds on a multi-year collaboration, beginning when the company was one of seven startups to participate in Habitat’s ShelterTech India accelerator program in 2018.