Updates:
• 011H has raised €20 million in a funding round led by Ship2B Ventures and CDTI to scale its low-carbon, tech-driven modular construction business across Europe.
—–
Sometimes the most interesting entrepreneurial stories aren’t about following a straight path, but about having the courage to venture into entirely new territories. Lucas Carne’s journey from e-commerce pioneer to construction innovator perfectly exemplifies this principle.
Back in 1999, while working at Bain & Company’s Iberia office, Carne met José Manuel, who would become his longtime business partner. Both from Barcelona and coming from entrepreneurial families, they shared what Carne calls “the virus of entrepreneurship.” This partnership would prove transformative, leading to the creation of Privalia.com in 2006, a pioneering e-commerce company in Europe.
In this episode of BitBuilders, Lucas Carné, co-founder of 011H and former founder of Privalia (sold for $500M), shares insights on revolutionizing construction through digital innovation and sustainability.
The Privalia chapter of Carne’s story ended triumphantly in 2016 with a $500 million sale to a competitor. But beyond the impressive financial outcome, Privalia gave Carne something even more valuable: “It gave me professional growth and fulfillment. It gave me a wife – my wife is the former chief legal officer of the company. It gave me a lot of friends for life, and it gave me my freedom because now I can work just for passion and purpose.”
This freedom to pursue purpose led Carne down an unexpected path. Rather than staying in the familiar territory of e-commerce or retiring to enjoy his success, he turned his attention to one of the world’s most traditional and challenging industries: construction.
Why construction? As Carne explains, it wasn’t just about business opportunity. “I wanted to do something meaningful,” he says. The construction industry intersects with two of today’s most pressing challenges: housing affordability and climate change. The industry’s problems are well-documented – inefficiencies, delays, budget overruns, and a massive environmental footprint. For Carne, these challenges represented an opportunity to make a real impact.
This led to the creation of 011H (pronounced “zero eleven h”), a company that’s reimagining construction through digital innovation. The name itself reflects their approach – the “0” and “1” representing digital transformation, while being the first three digits of the Fibonacci sequence, connecting mathematics with natural proportions found in architecture.
But Carne didn’t just jump in blindly. He brought crucial lessons from his Privalia experience, particularly about how to integrate digital teams with operational ones. As he puts it, “At Privalia, we had the opportunity to learn how to put digital teams developing digital products to work together with operational teams in order to transform an industry like retail, which is very heavy on operations.”
Perhaps most importantly, Carne approached this new venture with both ambition and humility. Unlike some construction tech startups that raised hundreds of millions only to fail, 011H took a more measured approach. They remained asset-light, focusing on building digital tools and processes rather than investing in manufacturing facilities. This strategy came from understanding that “construction is a very specific industry – it’s very difficult even if you standardize to the limit. Every location is different, every land is different, any urbanistic regulation is different.”
Today, 011H is working to transform construction through four key differentiators: maximizing prefabrication, using sustainable materials, breaking down silos between design and construction, and leveraging digitalization. Their focus is on high-rise residential buildings in urban areas, where the need for affordable, sustainable housing is most acute.
What’s particularly striking about Carne’s approach is his emphasis on trust and relationship-building. In an industry notorious for adversarial relationships, 011H refuses to participate in traditional bidding processes, instead focusing on collaborative projects where all parties are aligned from the start. As Carne notes, “We believe in design and build collaborative projects where the key trades, suppliers, contractor, designer stay from the very early stage of the design phase.”
Looking ahead, Carne envisions 011H becoming a platform where developers, architects, and suppliers can connect and collaborate, all supported by digital tools that streamline the construction process. It’s an ambitious vision, but one that’s grounded in real experience and understanding of the industry’s challenges.
Carne’s story is more than just a tale of entrepreneurial success – it’s about having the courage to tackle big problems, the wisdom to apply past lessons to new challenges, and the patience to build something truly transformative. As he puts it, “I consider myself a man on a mission and that’s my life motif right now.”
For aspiring entrepreneurs, Carne’s journey offers valuable lessons about the power of purpose-driven entrepreneurship and the importance of bringing both ambition and humility to any new venture. It shows that sometimes the most meaningful opportunities lie not in disrupting the latest trending industry, but in applying fresh thinking to age-old challenges.
