ICON Raises $35 Million to Accelerate Development of its 3D Printers

ICON develops advanced construction technologies that advance humanity. Using proprietary 3D printing robotics, software, and advanced materials, ICON is shifting the paradigm of home building on Earth and beyond

FREMONT, CA: ICON, developer of advanced construction technologies including robotics, software, and building materials, raised $35M in series A round of financing led by Moderne Ventures. The company also welcomes Constance Freedman, Founder and Managing Partner of Moderne Ventures and Khan Tasinga, Director at Palantir Technologies, to its Board of Directors. Other investors that joined the funding were the international architecture firm BIG-BjarkeIngels Group, CAZ Investments, Citi, Crosstimbers Ventures, Ironspring Ventures, Next Coast Ventures, Oakhouse Partners, Trust Ventures, Vulcan Capital and Wavemaker Partners.

"In early 2018, there were no 3D-printed homes in North America and today, there are almost twenty and we're gearing up for hundreds more," said Jason Ballard, co-founder, and CEO of ICON. "We anticipate more high-velocity progress in the years ahead to help bring housing and construction into the modern world and in-line with humanity's highest hopes. The present challenges the world is facing due to new coronavirus have only emphasized the tremendous gap between the housing that we have and the housing that we need. We are grateful to those who have believed in our mission from the beginning and are excited to have a larger team of global investors joining us in our belief that the housing of our future must be different than the housing we have known."

Check This Out: Top Advanced Materials Solutions Companies

ICON's latest capital from the funding will speed up the development of its printers, create a variety of home types and designs and improve its core technology stack to expand its mission of using advanced construction technologies to advance humanity.

"Traditional building and construction techniques have not improved since B.C., they have only become more expensive," said Constance Freedman, Founder and Managing Partner at Moderne Ventures. "The results are vast deltas in affordability, limitations on design and both time and efficiency challenges. I believe we will see an evolution of the entire home-buying value chain, especially when integrated with other technologies like digital transactions and augmented reality. Consumers will be able to order, build, design and purchase a brand-new home in a matter of days--something that's truly innovative and truly disruptive. We are excited to support ICON as it continues to change the world."

ICON unveiled its first 3D printer and successfully secured a building permit and printed a home in Austin, Texas, in March 2018. In 2019, the company launched its next-generation Vulcan technology stack and delivered strategic, signature projects in the U.S. and Mexico.

ICON continued to deliver resilient, dignified 3D-printed homes in Mexico alongside nonprofit partner, New Story, completed a series of homes serving the chronically homeless in Austin, TX with nonprofit Mobile Loaves & Fishes at Community First! Village and developed a partnership with the Defense Innovation Unit and the United States Marine Corps to train Marines to operate its technology and complete a field demonstration print at Camp Pendleton.

The Austin-based start-up will be expanding their team with numerous roles across robotics, off-planet construction, materials science, software engineering, architecture, building science, and operations.

Weekly Brief