Jakarta, CNBC Indonesia – Lazada founder Florian Holm has a new startup working in the construction sector, called Stilt Studios. This Bali-based company builds disassembled houses for export abroad.
Stilt Studios announced Series A funding worth US$ 10 million (around Rp. 158 billion). The fresh funds, consisting of equity and debt, will be used to fund the company’s expansion into international markets, development of artificial intelligence (AI) capabilities, as well as the company’s first housing project.
Stilt’s first international project is located in Australia. In addition, the company whose production facilities are located in East Java claims to have received around 1,000 requests from Europe and the United States as well as the domestic market.
Modular houses, which are also known as knock-down houses or disassembled houses, are buildings consisting of standard components which are then assembled according to a Lego-like design.
The company, which was founded in 2019, now employs 100 employees including architects, engineers and carpenters in Bali and East Java.
Stilt claims their custom-made homes cut the carbon footprint of home building by up to 50 percent compared to conventional home building methods. Additionally, modular systems make building projects more cost and time efficient.
Standard modules made by Stilt use teak and bengkirai wood as raw materials, and the installation time per house takes 1-2 months.
“We want to offer one solution to a very inefficient housing market,” said Florian Holm, CEO of Stilt Studios who is known as one of the founders of Lazada.
Holm claims his company has made a profit since last year.
[Gambas:Video CNBC]
Next Article
This startup is willing to lose IDR 500 T for IDR 30 T in cash
(dem/dem)