CHICAGO--(BUSINESS WIRE)--S.I. Container Builds (SICBS), a startup that converts recycled shipping containers into living, rental, and working spaces, announced today that it has raised $1.7MM in a seed funding round led by HPA. The round also included participation from Service Provider Capital, Chicago Early Growth Ventures, and Kyle Stenzel. This capital comes on the heels of a record quarter and will enable SICBS to facilitate production facility expansion, accelerate production, and grow its team.
Today, two significant problems exist related to the housing market: a lack of availability and a need for sustainable building options. According to the Pew Research Center, housing availability and affordability pose major issues in the U.S., with the number of active housing listings hitting a five-year low in January. Meanwhile, the median sale price for a single-family home rose to $408,100, a 25% increase since Q4 2019. Between these two factors, the “American dream” of owning a home is far out of reach for many.
“We founded S.I. Container Builds with the realization that helping people and caring for the planet are not mutually exclusive. Our priority is building beautiful spaces that serve a multitude of purposes while executing according to sustainability best practices,” said Rory Rubin, co-founder and CEO. “We are proud to work with developers to deliver solutions that enable Americans and Canadians to live, work, and build community sustainably and with style.”
Given current supply chain challenges, surplus shipping containers have become a plentiful material for building. By using shipping containers as the base for its dwellings, SICBS not only creates beautiful, affordable dwellings, but eases the logjam of containers sitting at ports of entry nationwide and reduces the carbon footprint associated with the construction process. To further reduce environmental impact, SICBS outfits the structures with other sustainable materials, such as reclaimed wood, cork flooring, and eco-friendly insulation. In a span of 8-12 weeks, SICBS turns empty containers into sturdy, weather-resistant builds that can then be transported to and used in various environments. Their versatility, speed, and portability make them ideal for a variety of use cases, including permanent and disaster relief housing, campground and vacation rentals, mobile home communities, and tiny home communities.
“We’re supporting the SICBS team as they address the vast need for economical dwellings,” said Joe LaManna, the deal lead for HPA. “In just a few years, they have developed a strong track record, and they are now poised to make an impact in several additional B2B verticals. Working together, we intend to translate this momentum to projects on a massive scale, such as collaborations with municipalities to create neighborhoods that foster togetherness and enable a more sustainable, economical lifestyle.”
In the coming months, SICBS intends to pursue partnerships within strategic verticals and continue to expand its production capacity in the U.S. and Canada, which will allow it to serve a wider range of client needs. To learn more about the solutions SICBS offers, visit sicontainerbuilds.com.
About S.I. Container Builds
S.I. Container Builds creates economical & sustainable homes that can be used off- or on-grid for community builders, hotels, businesses, and developers, leveraging repurposed shipping containers. Founded in 2018, the company is committed to sustainability, smaller carbon footprints, giving back to communities, and building quality structures for customers in the U.S. and Canada. To learn more about S.I. Container Builds, visit sicontainerbuilds.com or follow @sicontainerbuilds on Instagram.