Proptech player Veev, a modular housing company based in Haywood, CA, may be on the verge of closing its doors in the midst of an expansion that expected the Bay Area company to build 300 single-family houses over the next two years.
The company, which was founded in Tel Aviv in 2008 and has constructed more than 170 residential units in Northern California, has decided to sell its assets after failing to secure its latest round of financing, according to a report in the San Francisco Chronicle.
The company, which according to PitchBook has raised $646M to date and employs 255, including 100 people in an R&D center in Tel Aviv, is actively seeking to sell its US assets in order to mitigate its losses, the report said.
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