ICON company uses 3D printing house technology to raise huge financing, enterprise value is about 2 billion US dollars

Guide:
Austin-based
architecture
Startup Icon has raised $185 million to grow its 3D residential printing business. Founded in late 2017, ICON is the first building certification in the United States3D printingHousing startups.According to reliable sources, in February 2022, ICON will lead a round led by Tiger
financing
China has raised an additional $185 million to spend3D printingTechnology builds more homes, with a business valuation now approaching $2 billion.

Startups get huge financing

ICON, which uses 3D printing to create homes, has raised an additional $185 million in a Series B+ round led by Tiger Global Management (the Tiger Bad Ball Fund), having already raised a $207 million Series B round last summer. The additional funding brings Icon’s total equity capital to $451 million.The startup only broke into the mainstream in early 2021
housing
The market, said to be the first 3D-printed homes to be sold in the US by Austin, Texas-based developer 3Strands.

While the Austin-based company confirmed the latest financing, it declined to comment or provide further details on its valuation.However, one industry source, who asked not to be named, claims that ICON’s valuation is “now close to $2 billion” due to many
Invest
more funds were added to the company.

“We are excited about the opportunity to continue working with world-class investors, board members and organizations at every level,” a spokesperson for Antarctica learned by email wrote. Previous backers include Norwest Venture Partners, 8VC, Bjarke Ingels Group (BIG), BOND, Citi Crosstimbers, Ensemble, Fifth Wall, LENx, Moderne Ventures, Oakhouse Partners and more. It is unclear which investors also participated in the financing. With this latest funding round, ICON has now raised a total of $451 million in investment capital.

ICON of a house printed using additive technology

ICON was established at the end of 2017 and gained attention during SXSW in March 2018, (South by Southwest, referred to as: SXSW, is a series of industry conferences held every year in Austin, Texas, USA, covering environmental protection, educational innovation, and as startups, etc.). ICON is the first 3D printed housing startup in the United States to be certified for construction.with a 350-square-foot
House
For example, 3D printing took only about 48 hours to build. ICON describes its 3D printing technology as producing “resilient, energy-efficient homes” faster than traditional construction methods, with less waste of raw materials and greater design freedom.These houses and structures comply with the International Building Code (IBC) Structural Code
standard
Built and expected to last as long or longer than a standard Concrete Masonry Unit (CMU) built home. ICON’s proprietary wall systems and advanced materials are stronger and longer lasting than traditional building materials, providing safer, more resilient homes designed to withstand extreme weather and greatly reduce the impact of natural disasters.

At the time of its last funding round, the startup said it had already delivered two 3D-printed houses and structures in the U.S. and Mexico. More than half of these homes are for the homeless or chronically poor. For example, in 2020, ICON delivered a 3D printed house in Mexico with its nonprofit partner New Story. It also completed a series of families serving chronically homeless people in Austin, Texas, through the nonprofit Mobile Loaves & Fishes.

Start-ups and construction giants

Last October, ICON announced a partnership with Lennar, the second-largest home builder in the U.S., and Lennar is also an investor in the startup. “Additive manufacturing has the potential to revolutionize the construction industry as the industry adopts it at scale,” said Martin Voelkle, Partner at BIG-Bjarke Ingels Group. “By partnering with ICON and Lennar, we are honored to be able to see this new technology It can be promoted to more people. The two plan to use ICON’s 3D printing equipment,
software
and advanced construction printing materials, as they say they plan to build “the largest community of 3D-printed housing to date,” with 100 homes up to 3,000 square feet in size, with plans to break ground this year.

Comments:
Low supply and high demand have spurred the U.S. housing market and are also an entry point for 3D-printed residential homes, as many U.S. cities are suffering from severe housing shortages, especially in markets like Austin, where the median home price over the past year Up nearly 46%, for more users looking for affordable housing, ICON’s3D printing technologyIn the future, the shortage of affordable housing will be greatly improved, and market valuations will continue to rise.

(responsible editor: admin)