ICON Raises $207M to Scale Construction of Its 3D-Printed Homes

August 24, 2021
A 3d-printed house made by Icon. | photo: ICON

ICON announced on Tuesday it raised a $207 million Series B round led by Norwest Venture Partners, bringing its total capital raised to $266 million. The Series B round comes nearly a year after the 3D printing company raised a $35 million Series A round.

“We want to turn up the velocity in a major way and are ready to scale,” Jason Ballard, ICON CEO and co-founder, said in a statement. “With the support of the very best 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.”

ICON is on a mission to make dignified homes available to everyone, and has been developing 3D technology to print homes and structures — both on Earth and in space. Since launching in 2018, the startup has completed more than two dozen 3D-printed homes in the United States and Mexico, including the world’s first 3D-printed neighborhood.

Current projects underway for the company include the first simulated Mars surface habitat (see video below) and barracks to house people during military training. ICON is also working on disaster relief, social and mainstream housing, according to a news release.

“We’re treating [these projects] 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,” Ballard said. “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.”

ICON’s technology prints energy-efficient homes faster than traditional construction methods with less waste, according to the company.

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