26 December 2024, Mumbai: EPACK Prefab, one of India’s leading turnkey solution providers for pre-engineered building (PEB), pre-fabricated modular structures and insulation products, today announced raising USD 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. 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 Company’s manufacturing capabilities at its advanced facilities in Greater Noida, Ghiloth (Rajasthan), and Mambattu (Andhra Pradesh), which collectively have an annual production capacity over of 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.
EPACK Prefab has set a new industry benchmark by constructing India’s fastest building in just 150 hours, showcasing the power of prefabricated construction. Having already delivered thousands of projects, EPACK has developed strong brand equity in the industry through its design and engineering capabilities, high-quality manufacturing, timely execution, and project management expertise. The Company also plans to expand its market presence across India and explore opportunities in international markets, further cementing its position as a pioneer in the PEB sector.
Commenting on the first round of funding, Mr. Sanjay Singhania, Managing Director of EPACK Prefab, said, “This funding is a testament to our vision and the capabilities of Prefabrication and PEB technologies. It strengthens our resolve to revolutionize construction practices by delivering innovative, sustainable, and rapid building solutions. This milestone energizes us to set new benchmarks for the industry.”
Mr. Nikhel Bothra, Executive Director of EPACK Prefab, added, “We are thrilled to have the support of a global climate fund as we continue to lead the transition towards sustainable construction practices through prefabricated and PEB solutions. This funding empowers us to invest further in cutting-edge technologies and expand our footprint while maintaining a strong focus on sustainability.”
Mr. Krishnan Ganesan, Managing Director at GEF Capital Partners said, “Modular construction technologies play a key role in decarbonization of the construction sector with their lower GHG footprint and higher climate resilience. We are excited to partner with EPACK Prefab in their effort to catalyse sustainable practices in the construction industry through their offerings.”