Vancouver-based green construction startup Nexii, once celebrated as a ‘unicorn’ for its rapid valuation growth, is now under court protection from creditors. The company, known for its innovative approach to eco-friendly building solutions, has found itself owing more than $112 million to its creditors. This situation led Nexii to file for Chapter 15 protection in the US, following a similar bankruptcy protection move in Vancouver, British Columbia. Despite having raised significant capital, including a $250 million over time, and boasting an extensive intellectual property portfolio, Nexii faces financial challenges, underscoring the volatile nature of startup growth and the complexities of sustainable construction markets.

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