Monumental announced a $32 million Series B funding round, led by Khosla Ventures with existing investors Hummingbird Ventures, Plural, and others also participating. The funding will support the company’s next phase of growth, including expanding its team of hardware and software engineers, deploying more robots on sites across Europe, launching in the U.S. this year, and widening the range of construction work its robots can take on.
Monumental has built a small but exceptional team driven by a love for innovation and the ambition to address a civilization-scale problem: the rising cost of construction. The company aims to bring automation to the construction industry to help create affordable, beautiful, high-quality housing for everyone, with nearly 100 structures already built by its robots, including canal walls, houses, and a school.
KEY QUOTES:
“Construction costs have exploded while the industry itself has barely changed in decades. That combination has produced the housing crisis: we know how to build, we’ve just made it too expensive and too slow.”
“Monumental is solving this by bringing robotics into the physical world, and the proof is already standing: canal walls, houses, a school, nearly 100 structures already built by robots. Beautiful buildings, built at scale, don’t have to cost what they cost today.”
Vinod Khosla, Founder, Khosla Ventures
