In 2014, Canadian Alexis Rivas and Ethiopian Jemuel Joseph were scholars of architecture at The Cooper Union for the Advancement of Science and Art in New York. What they learned either was the construction of a high-quality space, whether long and expensive, basically because of the need for an army of subcontractors and personnel with specialized features they would like to coordinate.
This has led them to wonder, “Why are houses built in a factory?”
“Almost every single product in our lives, such as automobiles, electronics, clothing or furniture, is manufactured in a factory,” Rivas says. “As a result, these products are of the best quality, can be obtained in abundance and have wonderful value.”
In 2014, Rivas and Joseph partnered and created Cover, a company that designs, designs, manufactures and installs gardening studios. Today, the company, co-founded through the two winners of 30 Under 30 Years of Manufacturing, announced that it has raised a $10 million Serie A funding, led through Founders Fund and Lennar Corporation, with Valor Equity Partners as new investors. Existing investors General Catalyst, Fifty Years and Khosla Ventures participated in the round.
The operation of Cover is that it allows users to write their map on their site and the site will provide them with data about what they are legally authorized to build. From there, the prospective consumer would pay $250, answer a questionnaire of 50 to 100 words asking for length (number of bedrooms and bathrooms) and personal tastes (if you need a guest house or office), and won 3 possible designs created through Cover’s. Algorithm.
If you are interested, the consumer will, make small adjustments if you wish and pay $20,000 in deposits. Cover would manage the process with the city to unload the permits, manufacture the studio at its Los Angeles plant, send the fabrics in a truck and gather them on site.
“It can be considered as a set of high-tech life-size Lego blocks,” Rivas says. “With this set of blocks finished, we can create an infinite number of other designs.”
The value of the study varies depending on the duration and is decided on a perpassithmic basis as the design is generated (so far 1000 designs have been presented to potential consumers). For a small studio, such as a garden office, you can charge around $80,000, while for a two-bedroom, two-bathroom design it can go up to $350,000.
The average length rivas chooses is six hundred square feet, so they value about $230,000. The corporation only operates in Los Angeles at the moment, and Rivas says it grows twice a year.
Delian Asparouhov, director of Founders Fund, says the company is recently following Tesla’s master plan.
“The first houses they are building lately are the Roadster, they are in the highest finish on the market, with many first users without houses, and I think the purpose is to get to our Model 3 as soon as possible,” asparouhov says. .
According to him, no one else produces houses in a factory like Cover.
“Henry Ford invented the car meeting line and that’s what made cars reasonable and accessible to everyone,” says Asparouhov. “No one has been the meeting line in the global house and I think Cover is the first company to do so.”
Cover, which lately employs 30 people, sneaked out in 2017 and has already raised $1.7 million in seeds in the year.
I sing the news and Forbes Under 30. Originally from Skopje, Macedonia, I received a double degree in film and journalism from Chapman University in California, and a
I’m waiting for the news and Forbes Under 30. Originally from Skopje, Macedonia, I earned a double degree in film and journalism from Chapman University in California, and a master’s degree in journalism from Columbia University in New York. While on the West Coast, I did an internship for Appian Way Productions by Leonardo DiCaprio, the Creative Artists Agency (CAA), and worked as a foreign correspondent for a Macedonian national newspaper. Twitter: @igorbosilkovski