On Wednesday, Seattle-based tech company Sustainable Living Innovations (SLI) announced that it closed a $53 million funding round that included participation from Goldman Sachs, Equity Residential and The Hunt Companies. The new funding brings SLI’s total venture capital raised to $81 million across two rounds, according to Crunchbase.
SLI is a technology company whose building platform helps real estate developers and construction workers build new high-rises more affordably and sustainably. The platform works by designing panels that can be assembled on-site during construction and come pre-installed with mechanical, electrical, fire safety and network systems — therefore significantly reducing the amount of time spent in the construction phase.
In addition to designing the panels used during construction, SLI also manufactures the panels in its Tacoma facility. SLI has offices in Seattle and Denver for its corporate staff.
Being involved in the design phase means that the company is able to configure things, such as HVAC systems, in an efficient manner that reduces heat waste. SLI is also able to cut down on costs allowing building owners to set lower rent prices and make units attainable for medium to low-income families.
The company also has a plug-and-play commercial sustainability package that can be easily manufactured into its panels. The package features solar power systems, energy storage, greywater recovery and treatment, heat recovery, hydraulic heating and cool, low-voltage electrical system and regenerative elevators breaks.
SLI is currently working on a five-story, 124-unit housing complex for individuals who have experienced long-term homelessness. The project recently broke ground in Seattle’s Belltown neighborhood. When complete it will be the world’s first multifamily tower that meets net-zero energy requirements, according to SLI.
“We are grateful for the support of our investors — both new and existing — and their commitment to what we are trying to accomplish,” SLI CEO Arlan Collins said in a statement. “This capital funds the sustained growth of the company, several important projects in our pipeline, expansion of our manufacturing facility in Tacoma, Washington, and continued product development and innovation. We continue to see significant interest in the SLI technology as we grow our pipeline.”
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