# Abodu

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/abodu

- Industry: Business Support Services
- Headquarters: Redwood City, US
- Website: www.abodu.com
- Total disclosed funding: $24M
- Latest round: Series A (May 17, 2021)
- Investors on record: 2

## About

Abodu, Inc. is a California-based company that specializes in the design and construction of customizable prefabricated accessory dwelling units (ADUs), providing innovative living solutions for homeowners.Founded in 2018 in Redwood City, US, Abodu, Inc. focuses on creating accessory dwelling units to meet the growing housing demand. The company raised USD 20 mn in a Series A funding round on May 17, 2021, led by Norwest Venture Partners and supported by Initialized Capital. The founders, Eric McInerney and John Geary, have a history of developing solutions that address housing needs, with John Geary also serving as the current CEO.Abodu specializes in the design and construction of prefabricated accessory dwelling units (ADUs) in California, offering customizable living spaces including studio, one-bedroom, and two-bedroom configurations. Their ADUs are designed to meet diverse needs, serving as guest accommodations or rental units, and include essential amenities such as full kitchens and bathrooms. Catering to homeowners in over 90 cities, Abodu also collaborates with property developers to enhance real estate portfolios.Abodu's revenue model is based on direct-to-consumer sales of its prefabricated ADUs, initiated through a customized purchasing process that includes consultation and site assessment. Pricing for their smallest studio model starts at approximately USD 228,800, with financing options that may include monthly payment plans beginning at around USD 1,600. By managing the entire process from design to installation, Abodu positions itself as a turn-key solution provider, generating revenue through sales of ADU models and associated services.Following the Series A funding of USD 20 mn raised in May 2021, Abodu plans to utilize these funds to design new products and expand into new geographic markets, thereby enhancing its delivery of housing solutions across the country. The company is focused on developing innovative methods to meet housing demands as it seeks to broaden its reach beyond California.

## Funding rounds

- Series A, May 17, 2021, $20M — Norwest Venture Partners, Initialized Capital
- Seed, Mar 12, 2020, $3.5M — Initialized Capital

## Investors

- Initialized Capital (https://capitalatlas.ai/funds/initialized-capital) — Seed, Series A
- Norwest Venture Partners (https://capitalatlas.ai/funds/norwest-venture-partners) — Series A