by Van Dam, Cafe Biz Vietnam
Revolution Precrafted specializes in selling prefabricated homes with an average price of $120,000 per unit. Customers can order through the company’s website and have their homes delivered in as little as 90 days around the world.
According to Tech in Asia, the Philippines’ pre-built home-selling startup Revolution Precrafted is valued at more than $1 billion after a recent funding round, becoming the country’s first billion-dollar startup.
With less than 2 years of operation, since December 2015, Revolution Precrafted is also the startup that has achieved this value the fastest in Southeast Asia.
Leading this round of Revolution Precrafted’s funding is Singapore’s K2 investment fund. This is a fund founded by Ozi Amanat, who is known for his investments in Alibaba and Twitter before these companies made their IPOs. K2 also invests in many big startups such as Spotify, Magic Leap, Paytm, and Palantir.
This is considered a miracle for a startup in a small country with a small amount of startup capital compared to neighboring countries like the Philippines.
Revolution Precrafted was founded by Robbie Antonio, from a family specializing in real estate. Robbie is the brains behind a series of billion-dollar projects in collaboration with big names like Forbes Media, Armani/Casa, Versace Home, Paris Hilton, and the Trump corporation. Later, he switched to making houses with professional design to reach more customers.
Revolution Precrafted specializes in selling prefabricated homes with an average price of $120,000 per unit. Customers can order through the company’s website and have their homes delivered in as little as 90 days around the world.
As of March 2017, Revolution Precrafted has completed $110 million worth of orders and raised $15.4 million in capital from several investors such as 500 Startups. These investors also have to work hard to get approval to invest here.
“Revolution Precrafted doesn’t need to be mobilized, I had to convince them to invest here,” said 500 Startups fund representative Khailee Ng.
In Southeast Asia, there are a number of billion dollar startups such as Sea, Grab and Lazada in Singapore; Traveloka and Tokopedia of Indonesia, and VNG Corp of Vietnam.
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