August 20, 2020
Icon has secured $35 million in a Series A led by Moderne Ventures. Other backers in the round include Citi, Vulcan Capital and CAZ Investments. The Austin-based startup uses 3D printing technology to build houses and printed its first home in 2018. To date, it has raised $44 million in total funding.
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Ironspring, Next Coast Ventures, Oakhouse Partners, Wavemaker Partners
ICON, an Austin, Texas-based home-printing startup, raised $35 million in Series A funding led by Moderne Ventures.
Why it's the BFD: Because using a giant 3D printer, with concrete as its substrate, to build houses is not only audacious, it also could help alleviate America's dearth of affordable housing.
Others investors include BIG-Bjarke Ingels Group, CAZ Investments, Citi, Crosstimbers Ventures, Ironspring Ventures, Next Coast Ventures, Oakhouse Partners, Trust Ventures, Vulcan Capital, and Wavemaker Partners.
Bottom line: "The first ICON home was permitted and built in Austin, Texas two years ago. Now the company, in cooperation with local nonprofit Mobil Loaves & Fishes, is building an entire community for homeless people in the Austin area... When completed later this year, the village will cover 51 acres and provide housing for 480 people — about 40% of Austin's homeless population." — Steve Hanley, CleanTechnica