UK/ Estonia: ÖÖD Mirror House, which develops prefabricated mirrored cabins, has closed a private funding round of close to €1 million.
The round was led by ÖÖD chairman Robin Boehringer [founder of Box Capital] and a small group of investors.
According to a company statement, the investment will be entirely invested in “revenue-generating assets” of ÖÖD Mirror House and creating “unique nature getaways”.
That investment will also allow the company to accelerate the growth of its portfolio of ÖÖD Mirror House partnership sites. The partnerships entail cooperations with entities such as estates, vineyards, countryside restaurants, hotels and landowners to create a nature-focused cabin venture together, while providing them with ÖÖD Mirror Houses, a sauna or hot tub, development and site design support and a booking platform [if needed] in return for a revenue share.
Founded in 2016 by Estonian siblings Jaak and Andreas Tiik, the ÖÖD concept enables each module / cabin to be built with external mirrors to reflect the environment in which it sits and offer various internal designs. For example, modules can include hotel-like rooms with living space, a bathroom and kitchenette, while others can include a sauna or office space.
Modules can be constructed in less than eight hours and arrive on site already built.
ÖÖD already operates sites in more than 20 countries including in Europe, the United States and Africa, with more sites in the pipeline in the UK, Ireland, Iceland, Norway, the United States, France, Italy and Germany. This includes plans to establish another flagship site in Pyhtää, Finland [a 1.5-hour drive from Helsinki], later this year, as well as a flagship location in Iceland next year, pending the approval of a building permit.
Daniel Fanselow, head of development at ÖÖD Hotels, recently joined a Boutique Hotel News webinar to discuss ‘The synergies of boutique hotels and short-term rentals’ alongside OTA Insight and Slättö – view the recording of the conversation here.