MARE ISLAND, Calif.,
July 10, 2019 /PRNewswire/
-- Factory_OS, a leader in revolutionizing home construction
by building multifamily homes more affordably and sustainably while
creating jobs, and funding innovation, received strategic
investments from Autodesk, Inc. (NASDAQ: ADSK) and
Citi (NYSE: C) to address the growing affordable housing
crisis in the San Francisco Bay
Area and beyond.
With this investment, Autodesk expands its existing relationship
with Factory_OS by supporting the build out of the Factory Floor
Learning Center, a space dedicated to education and research on
industrialized construction and changes needed in public policy to
optimize its benefits. This work will be led by the Terner Center
for Housing Innovation. The investment will also help establish a
team to scope and build a new Rapid Response Factory. This second
factory space offers an opportunity to both explore additional
machining techniques and to meet the demand of quick turnaround
housing needed after natural disasters and emergencies. Together,
Autodesk and Factory_OS will provide greater software collaboration
to streamline design, fabrication and supply chain management.
Citi is backing Factory_OS through its Spread Products
Investment Technologies (SPRINT) initiative within the ICG
division, which formed in 2018 to invest and engage new technology
partners, and Citi Community Capital, the bank unit through which
Citi works to finance all types of affordable housing and community
development projects. In 2018, Citi reported over $6 billion of lending to finance affordable
rental housing projects and was recognized as the Country's largest
affordable housing lender for the ninth consecutive year.
"Autodesk and Citi are playing a critical role in our continued
growth and expansion," said Rick
Holliday, CEO of Factory_OS. "We're proud to stand
alongside two companies that share our vision for transforming the
construction industry, and care deeply about addressing the housing
crisis that exists not only in our backyard but also in urban
centers nationwide."
Added Andrew Anagnost, CEO of
Autodesk: "Factory_OS is a pioneer that is revolutionizing the
approach to modularized homebuilding and making the dream of
affordable housing in cities, a reality. We're honored to support
their mission, in collaboration with Citi, of giving families safe
and affordable homes to call their own. I have no doubt our
continued collaboration will serve as a springboard to addressing
the growing housing crisis nationwide."
"Bringing innovation to affordable housing is critical in
addressing one of the nation's most pressing challenges," said
Matt Zhang, Head of Spread Products
Investment Technologies at Citi. "We're excited to be part of this
envisioning process and together, with Factory OS, we can help
bring transformational changes to meet the growing demand for safe,
high-quality affordable housing."
To learn more about today's announcement, please visit ADSK
NEWS.
About Factory OS
Factory OS is a volumetric modular construction start-up in the
SF Bay Area with considerable potential to displace conventional
construction practices for affordable multi-unit residential
properties in this region and other U.S. urban
centers. Founded by industry veterans, they're committed to
growing their business in a sustainable way and being the
disruptive force to the industry that they know is needed. For more
information visit factoryos.com.
About Autodesk, Inc.
Autodesk makes software for people who make things. If
you've ever driven a high-performance car, admired a towering
skyscraper, used a smartphone, or watched a great film, chances are
you've experienced what millions of Autodesk customers are doing
with our software. Autodesk gives you the power to make
anything. For more information visit autodesk.com or follow
@autodesk.
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SOURCE Autodesk, Inc.; Factory_OS