Modular housing pioneer ilke Homes has raised a record-breaking £100 million from new and existing shareholders following successive years of triple-digit growth.

The firm hopes to use the funding to significantly scale-up its operations and open a new manufacturing facility that, once operational, will increase the company’s output capacity to 4,000 homes a year, creating over 1,000 new jobs in the UK.

ilke Homes, Octopus Energy and Gresham House have entered into a world-first strategic partnership to roll out the UK’s first homes which guarantee residents zero energy bills.

Giles Carter, CEO at ilke Homes, said:“Our latest fundraise demonstrates that the private sector is increasingly recognising the investment case for change.

A furnished bedroom inside a modular building shophome made by Ilke Homes at Flaxby near Knaresborough.

"With the race to net-zero well and truly underway, the next few years will be a decisive time in the history of housebuilding, so it’s important that true market disruptors are empowered to play a leading role.

“Having pioneered a zero-carbon, zero energy bills solution in partnership with Octopus Energy and Gresham House, the new monies will allow us to roll out our proven concept across the country and shield consumers from the cost-of-living crisis.

"By investing to increase our manufacturing capacity, we will also create hundreds of skilled, green jobs.”

The fundraising round is being led by funds managed by affiliates of Fortress Investment Group LLC, a leading global investment manager with approximately $46 billion of assets under management.

Existing investors TDR Capital and Sun Capital also subscribed to ilke Homes’ latest fundraising round, which was arranged by investment bank Citigroup.

The investment will also allow the company to invest heavily in automating more of its manufacturing processes.

Modular housing pioneer ilke Homes announces record-breaking £100m new equity investment