04 October 2017
Modular construction startup Emagispace has raised a $4.2 million in funding. The series A round of funding was led by Alpha Edison. Circle Ventures, United Talent Agency CEO Jeremy Zimmer, 54 Madison and others also participated in the round.
The company manufactures building blocks which are used to create walls for commercial retail stores, trade shows, rock concerts, college theaters, convention halls, and living spaces.
The idea of building modular blocks came to Noel Maxam, founder of Emagispace, when he was working for a film school building and installing store sets. However, irregular sizes and weights of the blocks made it an incredibly difficult process. So he partnered with an MIT engineer to manufacture blocks that are sustainable, reusable, and could be recycled, once someone is done with it.
These blocks consist of medium-density fiberboard panels made of sawdust, wood chips and recycled newspaper. They are then connected via lightweight ABS plastic interlocking blocks.
These blocks are manufactured in Minneapolis and Denver and cost $15.50 per square foot. There are two types of offerings. One is the raw Emagiblock for people who want to do their own build-out and use their own decorations; we also have customers who want the blocks to come together easily to create maybe an accent wall or a phone booth that people can use as private meeting rooms.
The company has currently 12 full-time employees which also include sales reps in New York, LA, Seattle, Atlanta, Denver, Dallas and Calgary.