Nabr, a San Jose, CA-based direct-to-consumer housing startup, raised $48M in equity and debt financing.
The round was led by 2150.
The company intends to use the funds to gear up for fall sales and acquire additional parcels to meet consumer demand. A portion of the funds were used to acquire three development sites in Downtown San Jose’s SoFA District. This land will feature 500 for-sale residential units, which includes SoFA One, in addition to two other buildings: SoFA Two and SoFA Three.
Co-founded by Bjarke Ingels (founder of architectural firm Bjarke Ingels Group), Roni Bahar (formerly of WeWork) and Nick Chim (co-founder of Flux, a spinout of Google[x]), Nabr provides a direct-to-consumer housing company that has built a platform to transform the process of finding, designing, purchasing, and living in a home that fits each resident’s unique lifestyle and financial situation. Nabr’s first development is coming soon to Silicon Valley.
While Nabr’s first building, SoFA One, will consist of only 140 units, the company currently has nearly 4,000 people on its Silicon Valley waitlist.