Dvele raises $15M in Series A

June 7, 2022

LA JOLLA, California, June 7, 2022 — Today Dvele, a San Diego-based housing technology company known for its hyper-intelligent, self-powered modular homes, announced the close of a $15M round of funding. Co-led by Crescent, experts in real estate investing with a portfolio of over $3B, and Marvin, a window and door manufacturer with over 100 years of history of leading the industry. Together the group shares a vision for a clean energy future and health-centric living spaces.

Dvele will use the investment to complete the implementation of its smart factory system located in Loma Linda, CA to create a fully scalable, robotic production line. This data-driven production process will convert lead flow directly into the company’s proprietary design and smart factory system where automated machines produce each home seamlessly in parallel to creating purchase orders, controlling inventory, and generating work instructions. Each order starts with personalizing a home online, then production in Dvele’s offsite smart factory, and lastly delivery and completion of the modules on-site.

Once the automated production process is perfected, the company plans to continue scaling through regenerative housing communities across the United States through its “Transcend by Dvele” offering in partnership with Green Builder Media. Together with its partners, Dvele is accelerating the transition to sustainable neighborhoods with homes that adhere to fully self-powered (all-electric), net-positive specifications. Each prefab home also comes with Dvele’s proprietary home intelligence system, DveleIQ, which manages and enhances the living experience.

“We’re excited to use this capital toward further fulfilling our mission of building a healthier future for the planet and all of its inhabitants,” said Kurt Goodjohn, Co-Founder and CEO of Dvele. “Refining our production cycle will allow us to swiftly scale our services in states across the US by implementing our data-driven, end-to-end solution for the home-buying experience. DveleIQ assists from the moment you configure your Dvele home online, through production in-factory, installation on-site and the final living experience in the completed home.”

“Marvin’s strategic investment in this long-term partnership with Dvele closely aligns with our focus on innovating for better ways of living,” said Paul Marvin, CEO, of Marvin. “Dvele is a leader in health-centric, self-powered, intelligent homes and our partnership aims to help thousands of homeowners in the future.” Marvin is a major investor in this round and holds a seat on Dvele’s board of directors.

About Dvele
Dvele is a privately held producer of next-generation modular homes. Founded in 2018 by pioneers of the modern modular home industry, San Diego-based Dvele is leveraging its expertise and platform to produce hyper-efficient, self-powered, healthy homes that are leading society’s energy transition to decentralized power generation and storage capabilities – all managed by the company’s proprietary DveleIQ smart technology embedded in every home. Their philosophy is to develop homes that are better for your health and well-being, while also contributing to the well-being of the planet. These homes minimize waste and exceed structural, environmental, and home performance standards, without sacrificing an aesthetically pleasing style. For more information, visit http://www.dvele.com.

About Crescent
Crescent Real Estate LLC (Crescent) is a real estate operating company and investment advisor, founded by Chairman John C. Goff, with assets under management, development, and investment capacity of more than $10 billion. Through the GP Invitation Fund I and the GP Invitation Fund II, the company acquires, develops, and operates all real estate asset classes alongside institutional investors and high net worth clients. Crescent's premier real estate portfolio consists of Class A and creative office, multifamily, hospitality, and senior living assets located throughout the U.S. For more information, visit www.crescent.com.

About The Marvin Family of Brands
Marvin is a fourth-generation family-owned and -lead business headquartered in Warroad, Minnesota, with more than 7,000 employees across 16 cities in North America. The Marvin portfolio of products for builders, architects and homeowners is designed to provide exceptional solutions for any project with a focus on creating better ways of living. Marvin products are distributed nationally through a network of independent dealers and are also exported internationally. Visit Marvin.com to learn more.

About Green Builder Media
Green Builder® Media is North America's leading media company focused on green building and sustainable living, effecting positive change by providing inspirational information to millions of early adopter consumers and progressive building professionals.  Green Builder Media generates award-winning editorial, including breaking news, prominent market research, original insights and visionary thought pieces.  With a comprehensive suite of content marketing, digital, social, and print media options, high-profile demonstration projects, market intelligence and data services, and live events, Green Builder Media offers a blend of visionary and practical information covering a broad spectrum of sustainable living topics, including Internet of Things, smart home technologies, net zero building, intelligent water, indoor air quality, resilient housing, renewables and clean transportation.  2022 marks Green Builder Media's seventeenth year of offering innovative media, communications, and data services that provide real value to our clients.

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Michelle Tennant Nicholson