NEW YORK — Vessel Technologies, Inc., a mission-driven housing product development company and franchisor that offers a high-quality, sustainable, and attainably priced housing solution, has secured Series A funding from co-lead investors Mastry Ventures and LENx, the venture arm of homebuilder Lennar. The terms of the investment were not disclosed but will accelerate Vessel’s growth, supporting continued expansion in the Northeast and a rollout to housing-constrained markets across the country.
Founded in 2017 and based in New York City, Vessel Technologies currently has over 12 projects under development throughout the Northeast. [Photo above: Rendering of a Vessel project in New London, CT.]
“This investment gives us the capacity to grow far more quickly and accelerate our efforts to offer each person an equal opportunity for an extraordinary life,” said Neil Rubler, Vessel’s Founder and CEO. “Our revolutionary product design, which incorporates the highest standards in environmental design and materials, and franchise model are game-changing for the housing industry. We are delighted that Mastry Ventures and LENx recognize Vessel’s potential to help communities, institutions like hospitals and universities, municipalities and traditional developers quickly create desperately needed, high-quality housing that’s attainably priced.”
“Vessel represents a whole new category of housing, innovative in every way, to fill a tremendous void: the dearth of truly excellent, deeply desirable and economically accessible rental homes,” said Sam Landman, Co-Founder and Managing Partner of Mastry Ventures. “In addition to shaving months and even years from traditional construction timelines, Vessel offers a product that checks every single box for communities that are serious about addressing their housing shortage with a solution for almost any site, whether urban or suburban.”
Vessel’s system is specifically designed to fit on sites as small as a half-acre, providing homes that are highly sustainable, safe, healthy, universally accessible, and economically attainable for working people that are currently priced out of the communities in which they grew up, work, or wish to retire.
Vessel is also revolutionizing the property management industry by offering local entrepreneurs the opportunity to franchise a Vessel location and become a housing provider to their communities while securing their own economic futures. Vessel franchisees are carefully selected for their aptitude, empathy, customer-service orientation, and dedication to Vessel’s mission. They receive extensive training in the operation of the Vessel system and are completely responsible for day-to-day operations.
