August 24, 2021

ICON founders400x275ICON, which develops advanced construction technologies including robotics, software, and building materials, has announced completing a $207 million Series B funding round. The latest round brings ICON’s total funding to $266 since launching 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. “This has required dozens of fundamental engineering, scientific and architectural breakthroughs, and we’re very proud of where we are today. We want to turn up the velocity in a major way, and are ready to scale. With the support of the very best of venture capital, strategic capital and industry partners, this round of funding will help us do just that: faster R&D, manufacturing and expansion to the people and places that need this technology.”

The company has delivered more than two dozen 3D-printed homes and structures across the U.S. and Mexico to date. In early 2021, the company broke into the mainstream housing market with the first 3D-printed homes for sale in the U.S. for developer 3Strands. More recently, ICON unveiled its next-generation Vulcan construction system, and debuted its new Exploration Series of homes to cooperatively develop new design languages and architectural vernaculars with world-class architects. The first home in the series, “House Zero,” was optimized and designed specifically for 3D printing, and features an elevated architectural and energy-efficient design that highlights resiliency and sustainability. The company said additional projects are underway to deliver social housing, disaster relief housing and mainstream housing, in addition to developing construction systems that can create infrastructure and habitats on the Moon and eventually Mars with NASA.

“We’re treating this like the Apollo program for the future of the way we build and the future of the way we meet one of our most basic needs,” said Ballard. “We’re going to accelerate the growth of an elite and diverse team of scientists, engineers, architects, operators, and leaders that is now over 100 and growing. We anticipate more rapid progress in the years ahead to help bring housing and construction into the modern world and in line with humanity’s highest hopes and values.”

The company’s Vulcan technology produces homes faster than conventional construction methods, with less waste and more design freedom. Designed and engineered from the ground up for volume 3D printing of homes with precision and speed, the Vulcan system can 3D print homes and structures up to 3,000 square feet, which is 1.5x larger and two times faster than previous ICON Vulcan 3D printers.

Leading the financing round was Norwest Venture Partners. Participating investors include 8VC, BIG-Bjarke Ingels Group, BOND, Citi, Crosstimbers, Ensemble, Fifth Wall, LENx, Moderne Ventures and Oakhouse Partners. For more details on the system and company, visit the ICON website here.