PIUS expands into construction technology sector with structural steel framing fabricator
SAN FRANCISCO, September 13, 2022 – Insured technology financing pioneer, PIUS announced today the securing of $10 million in funding for ConXtech, construction technology company and developers of revolutionary structural steel building system, ConX®. The financing, which will provide ConXtech with working and growth capital, was secured and underwritten by PIUS, based largely on its evaluation of ConXtech’s intellectual property (IP).
“Working with PIUS has enabled ConXtech to secure greater amounts of non-dilutive capital, on the strength of our Company’s IP,” said Gilles Caussade, CEO of ConXtech. “The financing will enable ConXtech to scale and meet demand for sustainable building in a post-pandemic environment.”
ConXtech’s ConX® building system enables rapid delivery of robust, cost efficient and sustainable structures, utilizing a standard set of manufactured “lower and locking™” connectors and building components for mass-customization of a precise structural building frame, to which other factory manufactured building modules can be added. The ConX System reduces time and overall project costs when compared to conventional structures and brings a systemic change to the building process, enabling owners and developers to predictably build faster and more efficiently. ConX special moment frame (SMF) connections meet special detailing requirements for the most demanding seismic loading as well as the current U.S. Department of Defense anti-terrorism standards (ATFP) for blast and progressive collapse resistance.
“ConXtech’s sustainable, modular construction technology is truly groundbreaking in its efficiency and affordability,” said Joe Agiato, CEO of PIUS. “That the ConX system offers solutions for nearly any building application – from high density housing, mixed use and commercial, as well as healthcare, military and government – makes it even more unique, and PIUS is eager to be a part of ConXtech’s future growth.”
PIUS provides a proprietary insurance product for growth-stage technology companies to secure flexible financing options without dilution by insuring the value of a loan, based largely on PIUS’ evaluation of the company’s intellectual property.
PIUS Limited, LLC, offers a proprietary insurance product for growing technology companies, which utilizes a company’s intellectual property (IP) as collateral. By insuring the loan based on its evaluation of a company’s IP, PIUS helps facilitate greater loan amounts at better rates, while transferring the risk from the lender to the insurer. Through PIUS’ CLip Notes program, PIUS provides the insurance, brings the capital source via institutional investors, and monitors the transaction, providing a complete solution. For more information, visit https://piusre.com.
ConXtech, Inc. is a privately-held construction technology company in Pleasanton, California. Its proprietary product, ConX® is a mass-customizable, modular, prefabricated structural steel building system for high density residential, commercial, healthcare and institutional structures, as well as industrial pipe rack, with 10 million sf designed and delivered to date. The ConX System is the first Cradle to Cradle Certified steel building system in the world. With ConX, the construction industry can predictably build faster, safer and more efficiently. For more information, visit https://www.conxtech.com.