Thibault and Simi Launay are currently living in Portugal. They found an innovative way to make their difficult and costly experience of creating their dream home into a fun and profitable business opportunity. Almost five years ago, they set out on the ambitious project with plans to move into their new home by February 2024. They soon ran into one obstacle after another, resulting in length and cost overruns in the double digits. Motivated by their experience, they went on to start Litehaus, a startup focused on making the home-building process easier and more effective.
The Launays also experienced the equivalent of 14 months added to their construction schedule. This blow was compounded by a 20% budget overage and the pressure of having to oversee more than ten subcontractors. The couple’s struggles are not unique to them—these are common occurrences in the construction industry that is riddled with disconnection and waste.
“Fourteen months of delays, 20% budget overruns, and endless stress managing over 10 subcontractors,” – Thibault Launay
Though they faced many challenges, the Launays didn’t waver from their dream. Thibault stressed their approach to construction, which minimizes waste by about 90%. Along with this, it reduces CO2 emissions by 50% compared to standard building methods. Their planning’s sustainable focus demonstrates their passion for conservation. In doing so, it addresses the pressing issue of housing shortages across Europe.
Litehaus is one step closer to taking a big step in that direction. It opens a company announced a €1.46 million pre-seed funding round with Cornerstone VC leading the round. The round brought follow-on participation from Explorer Fund, Claster Group, and Pascal Levy. Armed with this funding, Litehaus will move quickly to advance its mission. Our ultimate aim is to achieve a more transparent, sustainable, and trustworthy home-building process.
Rodney Appiah of Cornerstone VC expressed enthusiasm for the Launays’ vision, stating, “The shortage of housing across Europe has triggered a crisis, driving up the cost of living as home ownership becomes increasingly out of reach.” Given this backdrop, the need for bold, new solutions in the housing space has never been more urgent.
Thibault emphasized the swift action they took when it was time to secure funding:
“When it came time to raise, we moved quickly with partners who already knew us and shared our vision from day one.”
Litehaus likes to think of itself as the “Uber of construction,” seeking to bridge the often-fragmented elements of the home-building equation. The company’s focus is on modular construction methods. Thibault says these approaches allow them to construct homes at least 30% less expensively, 40% more quickly, and 60% more sustainably than conventional methods.
“As a go-to-market strategy, we decided to focus mainly on modular construction,” – Thibault Launay
Simi Launay, a consultant and founder with experience running a contemporary art gallery and a wellness brand for women of color, shared her motivation behind entrepreneurship:
“I’ve always wanted to build businesses that change people’s lives.”
This idea is at the heart of Litehaus’s mission, to simplify home construction as much as buying a home already is. The Launays are not just focused on alleviating their personal struggles; they are committed to changing the landscape of home construction for others facing similar challenges.
With one final push, the Launays are looking forward to moving into their new home next month and can’t help but look back on their journey with hopeful pride. Their story is a testament to what can happen when communities respond with resilience and innovation to challenges and disruptions. Through this unique process of stacking their experiences, both Thibault and Simi Launay have set Litehaus as a serious contender in the housing market today.
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