Transforming affordable housing through technology and innovation.
Dextall has raised $15 million in Series A funding to revolutionize affordable housing with its AI-powered prefabrication platform. The investment will enhance Dextall’s capabilities and enable expansion into major cities, addressing the urgent housing crisis. With a focus on efficiency, Dextall aims to significantly reduce construction timelines and costs, while forming partnerships with leading architectural and construction firms.
Dextall, a New York City-based construction technology company, has successfully closed a $15 million Series A funding round aimed at scaling its innovative AI-powered prefabrication platform across the nation. This funding round was anchored by leading industry firms, including L+M and Essence, which are focused on enhancing high-volume affordable housing projects.
The funding comes at a critical time, as over 6 million individuals have applied for just 10,000 affordable housing units in New York City. With vacancy rates dwindling to a mere 1.4% and average rents surpassing $3,500 per month, Dextall’s efforts to provide affordable solutions are becoming increasingly urgent. The company aims to address the growing demand for affordable housing units in urban settings, moving beyond traditional two-story structures to taller buildings capable of accommodating more residents.
Dextall’s platform integrates Dextall Studio, a cutting-edge proprietary software that transforms schematic designs into detailed architectural and fabrication drawings in less than a week—an impressive feat compared to the traditional design process, which can take up to 36 months. Dextall’s modular façade system is produced through certified regional partners, ensuring local compliance and quality.
Furthermore, an AI-powered operating system enhances operational efficiency and project delivery, resulting in significant time and cost savings for construction projects. Dextall’s innovative methods can cut down design-to-install timelines by up to 80% and reduce onsite labor costs by 87%.
The funding will facilitate Dextall’s expansion into major U.S. cities, including Boston, Philadelphia, Washington D.C., and Chicago. The construction model developed by Dextall is also aligned with Local Law 11 and broader decarbonization goals, thereby emphasizing sustainability in construction practices. In addition, the platform decreases operational energy costs by 20%, further contributing to affordable housing solutions.
Notable strategic partnerships are beginning to take shape, enhancing Dextall’s industry positioning. Collaborations with firms like SOM and SLCE Architects for specifying Dextall panels in designs highlight the growing traction of the company among construction leaders. Major firms like Turner Construction and Suffolk Construction are already in the process of installing Dextall panels in various high-rise projects.
Dextall has established a project backlog valued at $110 million and has secured an additional $50 million in contracts for 2024, showcasing the robust demand for its services. The company aims to eliminate 1 million days of coordination and construction time by 2030, which would significantly change how affordable housing is delivered across urban environments.
An important example of Dextall’s impact can be seen in the Baltic Canal, an 11-story residential building located in Gowanus, Brooklyn. Developed by Baltic Height LLC, this structure features 96 residences, with 25 units available for individuals earning between 40-130% of the area median income (AMI). For affordability, ten two-bedroom units are priced at $1,080 per month for those at 40% of AMI, while three one-bedroom units at 60% of AMI are priced at $1,444 per month.
Applications for the Baltic Canal apartments will be accepted until September 8, 2025, emphasizing the urgency for potential renters seeking affordable living options.
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