Venture Capital: 3D-Printed Homes Maker ICON Raises $207M Series B
ICON uses 3D printing robotics to make homes that are delivered around the world.
Construction technology startup ICON has closed a $207 million Series B round of financing led by Norwest Venture Partners with investments by 8VC, BIG-Bjarke Ingels Group, BOND, Citi, Crosstimbers, Ensemble, Fifth Wall, LENx, Moderne Ventures, and Oakhouse Partners. (ICON)
As of date, ICON’s total funding amounts to $266 million.
Using its innovative technology, the firm has already delivered more than two dozen 3D-printed homes and structures across the U.S. and Mexico. Its technology builds homes that are resilient, sustainable, and energy-efficient.
The company is also developing construction systems to create infrastructure and habitats on the Moon, and eventually Mars, with NASA.
Other ICON projects in the pipeline include social housing, disaster relief housing, and mainstream housing.
“Since our unveiling in 2018, ICON’s primary work has been maturing the technology from prototype to reliable, ready-for-the-world products and services,” said Jason Ballard, Co-founder, and CEO of ICON, in a statement. “This has required dozens of fundamental engineering, scientific and architectural breakthroughs . . . we want to turn up the velocity in a major way and are ready to scale.”
“We are particularly excited about the opportunity for ICON to collaborate with home builders and massively impact the housing shortage currently plaguing the U.S.,” said Jeff Crowe, managing partner, Norwest Venture Partners, who will join ICON’s board of directors.
The company’s Vulcan technology is designed for the volume production of 3D-printed homes that can be up to 3,000 square feet in size.
The system can print these homes much faster than conventional construction processes, with lesser waste and better designs.
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