New Delhi, Oct 21 (PTI) Non-profit organisation Habitat for Humanity International has invested Rs 3 crore in startup Tvasta Manufacturing Solutions Ltd to boost supply of affordable 3D printed homes in India.

"Habitat for Humanity International through its Shelter Venture Fund invested INR 30 million (USD 411,000) in Tvasta Manufacturing Solutions Ltd to increase production of affordable 3D printed homes in India," a statement said.

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Hestia Partners and Capnetic Investments also invested in the construction technology startup.

Habitat's investment in Tvasta builds on a multi-year collaboration, beginning when the company was one of seven startups to participate in Habitat's ShelterTech India accelerator programme in 2018. ShelterTech accelerators bridge the gap between housing innovation and real-world impact.

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The construction of Tvasta's first 3D printed home, completed in late-2020, generated less waste and was completed faster than traditional methods.

"The pandemic has only exacerbated the affordable housing crisis, with rising demand as well as material costs. Through the Shelter Venture Fund, Habitat is helping ensure that the most promising, disruptive technologies achieve scale, expanding affordable housing markets to reach more low-income families in need of reliable housing,” said Patrick Kelley, vice president of Habitat's Terwilliger Center for Innovation in Shelter.

Habitat's Terwilliger Center for Innovation in Shelter launched the Shelter Venture Fund in 2017 to invest in shelter entrepreneurs operating in the pioneer gap – where early-stage companies are often considered too new or too risky for conventional venture capital firms.

Shelter Venture Fund has so far invested a total of USD 3 million in 11 startups with disruptive and innovative products and services.

Habitat for Humanity, established in 1976, is a leading global non-profit working in more than 70 countries.

In India since 1983, Habitat for Humanity has supported more than 37 million people by helping them build or improve a place they can call home, build improved sanitation units and provide humanitarian aid and disaster resilient shelter solutions in the aftermath of natural disasters, the statement said. PTI MJH

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)