Story Of A Modular Construction Startup That Burned Through £10M in 15 Months - Chris Spiceley

Bricks And Bytes

What could go so wrong that a £10M modular construction startup collapsed in just 15 months?

In this episode, we had Chris Spiceley and we got to learn about his experience working at Modulous, a modular construction startup that went from raising £10M to liquidation in just 15 months.

Chris shares valuable insights on what went wrong, lessons learned, and advice for anyone building a construction tech startup.

Tune in to find out about:

✅ The challenges of delivering modular projects in the UK

✅ Key factors that contributed to Modulus' downfall

✅ The personal impact on employees when a startup fails

✅ Chris' thoughts on the future of industrialized construction

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This episode is brought to you by Shft—helping contractors like you leverage BIM to secure a leading position in the race towards construction’s digital future.

Visit: https://maketheshft.digital

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BuildVision is a procurement network for the $5T commercial construction market. We are transforming the commercial construction supply chain by bringing contractors, manufacturers, and project stakeholders onto a single software platform—revolutionizing how every component is sourced, purchased, and financed.

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Timestamps:

(00:00 - 02:50) - Intro To Our Sponsors & Guest

(02:50 - 07:59) - How Chris Made A Transition Into Tech

(07:59 - 21:54) - About Industrialized Construction and MMCs In UK

(21:54 - 28:41) - Chris's experience working at Modulous

(28:41 - 31:54) - Premature Decision Made By Modulous To Expand In US

(31:54 - 43:00) - Challenges That Comes With Pilot Projects

(43:00 - 58:21) - Economics Of The Idea That Modulous Had

(58:21 - 01:07:00) - Key Lessons Learnt By Chris

(01:07:00 - 01:16:09) - Understanding Chris's Perspective On Offsite Manufacturing

(01:16:09 - 01:16:50) - Outro