Cemex said: “It has become apparent that modular construction, in its current form, is not efficient.

“Although it does improve speed and quality of the build process, it needs to make significant improvements to solve the housing crisis.”

Cemex has now invested in London start-up Modulous which offers “a new construction approach based on a highly engineered kit-of-parts that enables the delivery of high-quality affordable homes at scale and pace.”

The software platform leverages artificial intelligence, generative design and 5D BIM modelling providing a fully integrated supply chain solution.

Cemex said: “By digitizing the entire materials supply chain management, Modulous reduces the time and cost overruns common in the construction process.

“By decentralizing operations this solution can scale rapidly as assembly of the modules is carried out by companies local to the final site.

“The construction system is easy to assemble, converting the kit of parts into homes in hours instead of months.”

Modulous has already secured a large pipeline of projects across the UK and Europe and is currently preparing the delivery of a £6.5m residential scheme in London.

Mateo Zimermmann, head of Cemex Ventures investment in Modulous said: “By including Modulous in our portfolio, we offer the industry a unique offsite construction model.

“After several years of exploring how this segment is advancing, we placed our trust in this team that perfectly combines engineers, designers, and technological developers.

“The Modulous innovative approach enables the supply chain to deliver sustainable and high-quality homes, significantly reducing time and costs.

“This team is going to revolutionise the residential development industry.”