Investors confident in Calgary-based Falkbuilt Ltd.'s rapid growth

More than 400 employees all work in a coordinated effort at Falkbuilt Ltd.'s southeast Calgary manufacturing facility in an effort to create indoor spaces that are sent to destinations all over the world.

Falkbuilt started its operation in February of 2019 with six employees. Since then, it has experienced 100 per cent growth year-over-year and is on track to achieve high-growth targets for 2022 and onward.

That's prompted attention of investors to the tune of $35 million, according to CFO Gina Thornton.

"That is huge for us, it validates our vision of what we've set out to achieve and changing the way that people think about interior construction," she said. "With big names like Stephens Capital (Partners) and Real Estate Technology Ventures, it solidifies what we believe is our vision and solving the legacy challenges of conventional construction."

Mogens Smed founded the company and is overseeing projects taking place all over the world.

"We just installed 10,000 square feet for Morgan Stanley in Mumbai, India," he said. "We did a research station in Antarctica, we did nine testing stations at the Bermuda airport and we did 20 ICUs up in Labrador."

Smed says technology has been the driver that has given the company the ability to give clients exactly what they're looking for, through world-leading digital component construction.

A company release says "the interior construction manufacturing company uses next-generation technology to manufacture components efficiently and precisely in the factory and is the first, worldwide, to provide digital end-to-end, offsite prefabricated solutions from design, development, fabrication and installation through its innovative Echo technology."

Smed wishes he had today's technology 30 years ago.

"There was no such thing as an iPad or iPhone, let alone the cloud, big data, artificial intelligence... it's all here now," he said. "I wish I wasn't 74. I wish I was 44, because you're going to see the whole world change now."

Last fall, Sunterra Greenhouse finished its eight hectare facility in Acme, Alta. to grow tomatoes and strawberries. Amanda Hehr is the company's president and says Falkbuilt constructed the office space.

"Traditionally, with all of the trades overlapping each other and coordination, you're looking at 10 to 12 weeks (build time)," she said. "So for them to be in and out in two weeks was definitely the primary driver for us selecting Falkbuilt as our partner in this project."

Hehr says global supply chain issues impacted the massive greenhouse project but not the office space done by Falkbuilt, which used wall paneling in the construction that can be safely cleaned.

"All of the surfaces are anti-microbial," she said. "Food safety is a big issue, so for us, the ability to disinfect and clean to make sure we're adhering to the Canada GAAP food guidelines was really important as well."

Smed believes the company's biggest upcoming markets are in the healthcare sector and says that's good news for investors.

"They see the potential and, candidly, we've proven it in the past," said Smed. "We built a $350 million business and we think we can be a billion dollar business within the next six or seven years."

For more information on Falkbuilt you can visit the company's website.