New Modular Block Construction Company Raise US$4.2 Million Funding

New Modular Block Construction Company Raise US$4.2 Million Funding

Noel Maxam, an Emmy Award winner for production, direction and writing has recently dived into the world of modular construction. He joined hands with a company called Emagispace to raise US$4.2 million in Series A funds. The funding operation was led by Alpha Edison along with the participation from 54 Madison, Jeremy Zimmer – United Talent Agency CEO – Circle Ventures, and others.

Noel Maxam teamed up with an MIT engineer to build the product that has a certain life cycle and was regular sized and sustainable. Maxam wanted to be able to construct a wall that could be brought down by a person and need not be thrown out completely after use. The idea was to apply different wall skin or covering that was independent from the blocks and reuse it.

The modules used for the product is made of fiberboard panels that are of medium density. The panels themselves are made of sawdust, recycled newspaper, wood chips, and Maxam used featherweight ABS plastic to interlock the blocks for better connection.

Maxam believes that apart from big motion picture studios such as Sony and Maker Studios using these modular construction blocks, they have a wider range of use. He states that these blocks are being utilized in commercial retail, rock concerts, trade shows, office spaces, convention halls, college theatres, and living spaces in homes. He also mentions that many NGOs are using this product to build disaster relief shelter.

Maxam also commented on the affordability of the Emagiblocks. The list price of the Emagiblocks is around US$15.50 per square foot, though some of the deals were based on the volume of the project. The production of the Emagiblocks takes place in Denver and Minneapolis. There are 12 full-time workers in the company including sales representatives in LA, New York, Seattle, Denver, Atlanta, Calgary and Dallas.

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