In an interview in December 2016, Robbie Antonio predicted his company would achieve unicorn status in a year's time
Real estate startup Revolution Precrafted is now valued over $1 billion, making it the Philippines’ first-ever unicorn—a label given to the once-in-a-blue-moon startup that achieves a billion-dollar valuation.
The startup, founded by 40-year-old Jose Roberto “Robbie” Antonio, raised an undisclosed amount from a series B funding round led by a Singaporean venture capital firm K2 Global, according to a report by Tech In Asia. K2 Global, a venture capital backed by Indian and Asian billionaires, has invested in Uber, Spotify, and online mobile applications Paytm and Saavn.
The Tech in Asia story was forwarded by Revolution Precrafted’s team to news agencies via email last October 23.
A sample of Revolution Precrafted's made-to-order homes
Established in 2015, Revolution Precrafted sells made-to-order homes designed by world-renowned architects at a fraction of the cost of a commissioned design. According to Antonio, his startup aims to disrupt the real estate industry through these lower price points and its technological innovations, allowing it to be “asset-light” while having a global distribution chain.
“With the company’s formidable value proposition and its borderless position, we believe it can be the first Philippine unicorn in a year’s time,” Antonio told Forbes Philippines magazine back in its December 2016 issue.
The startup made news last March for its series A funding round worth $15.4 million, which put the company’s valuation at $256 million then. That clinched Antonio a spot on Forbes’ exclusive list of the Philippines’ 50 richest this year, where he is ranked 28th with his father, Century Properties founder Jose E.B. Antonio, with a net worth of $400 million.
Lorenzo Kyle Subido is a staff writer of Entrepreneur PH