Factory_OS Receives Strategic Investments from Autodesk, Citi to Help Address Affordable Housing Crisis in Bay Area and Beyond

MARE ISLAND, Calif., July 10, 2019 /PRNewswire/ — Factory_OS, a company leading the transformation of home construction by building multifamily housing in a more affordable and sustainable way while creating jobs and supporting innovation, has secured strategic investments from two major players: Autodesk, Inc. (NASDAQ: ADSK) and Citi (NYSE: C). This funding aims to tackle the rising affordable housing crisis, particularly in the San Francisco Bay Area and beyond. The partnership with Autodesk will expand their existing collaboration, focusing on the development of the Factory Floor Learning Center—a space dedicated to education and research on industrialized construction methods and policy changes needed to maximize its benefits. The Terner Center for Housing Innovation will lead this initiative. Additionally, the investment will support the creation of a Rapid Response Factory, designed to explore advanced machining techniques and provide quick housing solutions after natural disasters or emergencies. Together, Autodesk and Factory_OS will enhance software collaboration to improve design, fabrication, and supply chain efficiency. Citi’s involvement comes through its Spread Products Investment Technologies (SPRINT) initiative within the ICG division, launched in 2018 to engage with innovative technology partners. It also includes Citi Community Capital, which focuses on financing affordable housing and community development projects. In 2018, Citi provided over $6 billion in loans for affordable rental housing and was recognized as the top lender for affordable housing for the ninth year in a row. Rick Holliday, CEO of Factory_OS, said, “Autodesk and Citi are essential partners in our growth. We’re proud to work with companies that share our vision of reshaping the construction industry and addressing the housing crisis not just locally, but across the country.” Andrew Anagnost, CEO of Autodesk, added, “Factory_OS is pioneering modular homebuilding and making affordable housing in cities a reality. We’re honored to support their mission, alongside Citi, to provide families with safe and affordable homes. Our collaboration will be key in solving the growing housing challenges nationwide.” Matt Zhang, Head of Spread Products Investment Technologies at Citi, noted, “Innovation in affordable housing is crucial to tackling one of the nation’s most urgent issues. We’re excited to partner with Factory_OS and help drive meaningful change to meet the demand for quality, affordable housing.” For more details about this announcement, visit ADSK NEWS. About Factory OS Factory OS is a volumetric modular construction startup based in the San Francisco Bay Area, with the potential to replace traditional construction methods for affordable multi-unit housing. Founded by industry veterans, the company is committed to sustainable growth and disrupting the construction industry. Learn more at factoryos.com. About Autodesk, Inc. Autodesk develops software for people who create. Whether it's driving a high-performance car, admiring a skyscraper, using a smartphone, or watching a film, you've likely experienced the impact of Autodesk's tools. The company empowers users to bring any idea to life. Visit autodesk.com or follow @autodesk for more information. SOURCE: Autodesk, Inc.; Factory_OS

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