 "EPACK Prefab raises $20 mn in first funding round from GEF Capital Partners")
EPACK Prefab, which provides solutions for pre-engineered building (PEB), prefabricated modular structures and insulation products, said it has raised $20 million in its first funding round from GEF Capital Partners, a leading global private equity fund.
The funding supports EPACK Prefab’s commitment to sustainability in the modular construction sector. The company said these technologies entail significantly lower carbon footprint than traditional construction on account of higher design efficiency, minimal wastage and recyclable nature of materials.
This infusion of capital is set to strengthen the company's manufacturing capabilities at its advanced facilities in Greater Noida, Ghiloth in Rajasthan, and Mambattu in Andhra Pradesh. These collectively have an annual production capacity of over 133,924 metric tonnes.
The funds will be used for capex expansion and drive growth initiatives by enhancing production capabilities, accelerating new product development, and expanding presence across the country.
Additionally, the funds will be directed toward enhancing research and development initiatives aimed at creating energy-efficient, prefabricated construction technologies.
“This funding strengthens our resolve to revolutionise construction practices by delivering innovative, sustainable, and rapid building solutions. This milestone energizes us to set new benchmarks for the industry,” said Sanjay Singhania, Managing Director of EPACK Prefab.
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EPACK Prefab said it has set a new industry benchmark by constructing India’s fastest building in just 150 hours, showcasing the power of prefabricated construction. The firm also plans to expand its market presence across India and explore opportunities in international markets.
“This funding empowers us to invest further in cutting-edge technologies and expand our footprint while maintaining a strong focus on sustainability,” said Nikhel Bothra, Executive Director of EPACK Prefab.
Krishnan Ganesan, Managing Director at GEF Capital Partners said modular construction technologies play a key role in decarbonisation of the construction sector with their lower GHG (greenhouse gas) footprint and higher climate resilience.