Assembly OSM, a modular construction startup that has compared its process to putting together Ikea furniture, raised $38 million in Series A funding.

The company was founded in 2019 by twin brothers Bill and Chris Sharples, principals of Manhattan-based SHoP Architects. Assembly calls its construction method “post-modular” because it is more akin to a car or aircraft assembly line than a traditional modular build-out, where the structure is put together on a single factory floor.

Assembly instead spreads construction across a vast network of suppliers and manufacturers — an approach that “constrains” the process but allows for more freedom in design, CEO Andrew Staniforth said.

The startup has now raised more than $60 million. Fifth Wall’s climate tech fund and Bessemer Venture Partners’ Rob Stavis led the latest round, with participation from the Jefferies Group, Manta Ray Ventures, FJ Labs, RSE, Signia, Gaingels, New Vista Capital, Tectonic, Atento, Etan Fraser and Moving Capital.

The Fifth Wall fund is “dedicated to decarbonizing the built environment and the global real estate industry.” Assembly claims that its buildings can have 30 to 40 percent less embodied carbon than traditional ones and that its construction sites cut emissions by 60 to 70 percent.

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