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Intelligent City closes $3.1M financing round for its technology-enabled housing system

Transaction Details

Fort Capital Securities Ltd., an Exempt Market Dealer and wholly owned subsidiary of Fort Capital Partners, is pleased to announce the completion of a $3.1M financing for Intelligent City Inc.

Intelligent City Inc. (“Intelligent City”) has closed a $3.1M financing round consisting of equity led by Fulmer & Company and credit provided by the Business Development Bank of Canada.

Intelligent City is focused on the construction of multi-family urban housing through the convergence of mass timber, design engineering, Passive House performance, automated manufacturing, and proprietary parametric software.

The company’s transformative approach is based on Platforms for Life (P4L), a scalable and adaptable proprietary technology platform created to deliver highly desirable urban housing offering a new level of affordability, longevity, environmental and social sustainability.

“BDC is extremely excited to partner with Intelligent City and support its commercialization as a leader in CLT mass timber construction for the urban multi-family housing market” said Richard Turner, Senior Account Manager at the Business Development Bank of Canada. Added Yuri Fulmer, Chairman of Fulmer & Company, “we believe their unique platform designed to create affordable, desirable, and carbon-neutral buildings can offer a compelling solution to the urban housing crisis faced by many cities across North America and globally”.

Fort Capital acted as financial advisor and placement agent for Intelligent City.