Prefab home builder Veev reportedly shutting down after reaching unicorn status last year
Veev, a real estate developer turned tech-enabled homebuilder, is on the verge of shutting down after reaching unicorn status last year, according to multiple reports. Calcalist reported on Sunday that the company – which raised $600 million in total, $400 million of which was secured in March of 2022 – has to shut down after an “abrupt cancellation of a capital-raising initiative.” Bond led Veev’s 2022 round, which also included participation from LenX (formerly Lennar Ventures), Zeev Ventures, Fifth Wall Climate Tech and JLL Spark Global Ventures. TechCrunch has reached out to Veev for comment but had not heard back as of press time. Founded in 2008, Veev Group started its life as a traditional real estate developer and asset manager. During its time developing properties, it found new ways to improve the building process, according to CEO and co-founder Amit Haller. In 2017, Veev Group began to focus on prefabrication capabilities, and by 2018 it formally pivoted to what it described as “a vertically integrated developer focused on building innovation.” In 2019, the company …