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Abodu raises $20M to build prefabricated backyard homes



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The need for more affordable housing has never been more urgent as a shortage in the U.S. housing market persists.
Startups attempting to help address the shortage in a variety of ways abound. One such startup, Abodu, has raised $20 million in a Series A funding round led by Norwest Venture Partners. Previous backer Initialized Capital also participated in the financing, along with Redfin CEO Glenn Kelman, former Stockton, California Mayor Michael Tubbs, GGV investor Hans Tung and Paradox Capital’s Kyle Tibbitts.
The California legislature changed laws in 2017 to make it easier to build Accessory Dwelling Units (ADUs). Then …

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