Source: ICON, Austin, Texas
Construction technologies company ICON has completed a $207 million series B round of financing led by venture and growth equity investment firm Norwest Venture Partners. The investment brings ICON’s total funding since launching its revolutionary 3D printing technology in 2018 to $266 million.
“We want to turn up the velocity in a major way and are ready to scale,” says Jason Ballard, co-founder and CEO of ICON. “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.”
“ICON’s groundbreaking technology has created a new paradigm for homebuilding that fundamentally changes how housing is constructed,” adds Jeff Crowe, managing partner at Norwest Venture Partners, and newest member to ICON’s board of directors. “The company is already building everything from single family homes for the homeless all the way to structures for habitation on the moon and Mars. But 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. We’re thrilled to add ICON to our portfolio of innovative prop tech leaders and look forward to partnering with the team in the years ahead.”
To date, ICON has delivered more than two dozen 3D-printed homes and structures across the U.S. and Mexico—more than any other construction tech company, the company contends. ICON broke into the mainstream housing market earlier this year with the first 3D-printed homes for sale in America for developer 3Strands. Most recently, it unveiled its next generation Vulcan construction system, which can 3D print homes and structures up to 3,000 square feet, and debuted its new Exploration Series of homes to cooperatively develop new design languages and architectural vernaculars with world-class architects.
