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Elevator Pitch: Block by Block
Illustration by Drue Wagner
Illustration by Drue Wagner
Founder and CEO, Cloud Apartments
Concept: Cloud Apartments is a product company within the rental apartment space. Its flagship line of modular apartments, Cloud S, is built in factories and stacked by crane. The result is modern-era apartments built at significant cost reduction.
The Why: There is a shortage of 5 million apartments in the United States alone. Cloud Apartments aims to address that shortfall and bring modular housing into the mainstream by becoming the Apple of housing, with hardware and software integration, embedded sound systems and projectors, and modern interior layouts.
Status: Wong, a former SpaceX engineer, founded Cloud Apartments in early 2021 and has closed more than $3 million from lead investor Tim Connors (MBA 1999) of PivotNorth Capital. Construction of Cloud’s first building will begin in San Jose, California, at the end of 2023.
Heard: “The rental apartment is a very disappointing product that the world has become accustomed to,” says Wong. “I wanted to see what would happen if Tesla and SpaceX engineers invented a product line of apartments that could be built by leaders within the construction industry.
My goal is to force the world to collectively reimagine the apartment where there is no sacrifice in quality or affordability.”
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