closes financing round
Summary
Intelligent City Inc. is pleased to announce it has closed a CA$3.1M financing round consisting of equity led by Fulmer & Company and credit provided by the Business Development Bank of Canada. The company’s transformative approach is based on Platforms for Life (P4L), a scalable and adaptable proprietary technology platform created to deliver highly desirable urban housing offering a new level of affordability, longevity, environmental and social sustainability. “BDC is extremely excited to partner with Intelligent City and support its commercialization as a leader in CLT mass timber construction for the urban multi-family housing market” said Richard Turner, Senior Account Manager at the Business Development Bank of Canada. “We believe their unique platform designed to create affordable, desirable, and carbon-neutral buildings can offer a compelling solution to the urban housing crisis faced by many cities across North America and globally” added Yuri Fulmer, Chairman of Fulmer & Company. The company has been a leader in innovative urban housing, sustainability, building technology and design methodology and has gained municipal approvals and broad government support for its mass timber building system and technology development.