A $60 million tech fund is backing startups speeding up housing construction

A $60 million investment fund backing construction tech to tackle housing development in Australia has been launched by Boman Group.

The fund, in partnership with JPCX, the investment arm of logistics and building supplies company JPC, has already completed its first investment in an Australian modular housing company to help it scale.

Boman Group founder and CEO Eric Gao said innovations such as prefabricated or modular housing have emerged globally as a solution, delivering high-quality dwellings at greater speed and lower cost.

“Boman Group has a long track record of identifying transformative businesses across technology and innovation, from Airbnb to OpenAI,” he said.

“We believe construction innovation such as modular building, advanced building materials, 3D Construction printing represents the next great leap in how Australia builds, one that is critical to helping solve Australia’s housing shortage while offering strong returns for investors.”

Gao said Australia ia one of the most promising environments to foster innovation in construction technology, but until now, lacked the capital to succeed.

“Many companies already in this sector pioneering unique solutions suited to our region in construction technology,” he said.

“In many instances however, they lack both the capital and contacts to scale. This is why we’re partnering with JPCX on this fund to meet both of the needs of these companies.”

JPCX director Paddy Jayawardena said JPC Group has a unique perspective on the construction value chain from three decades of experience in logistics, shipping, and building supplies.

“We’ve witnessed the industry’s inefficiencies from every angle — from container logistics to on-site delivery — and understand firsthand the structural challenges facing traditional construction,” he said.

“Through JPCX, we’re leveraging these established relationships with major developers and suppliers to identify and scale the technologies that will transform how Australia builds. Construction innovation, including modular housing and emerging technologies, isn’t just an improvement over traditional methods, it’s the fundamental evolution our industry needs for the future.”

Boman Group was founded in 2011 by Eric Gao and Julius Wei as BMY Group, then rebranding last year and now has assets valued at more $860 million under management.