ICON, a pioneering company in the field of 3D home printing, has successfully raised $56 million in a Series C funding round co-led by Norwest Venture Partners and Tiger Global. The funding will support the company’s ongoing development and expansion in the 3D home printing industry.
ICON’s mission is to utilize 3D printing technology to create affordable and sustainable housing solutions. Since its inception in 2018, the company has made significant strides in this area, having 3D-printed nearly 200 homes and structures in the United States and Mexico.
This recent investment will primarily be utilized to further develop Phoenix, ICON’s line of multi-story 3D printers. These printers utilize a novel low-carbon building material, enabling the construction of multi-story structures.
Despite the recent layoff of 114 employees, ICON remains committed to its mission. The company plans to continue designing and constructing key projects across various sectors, including residential, hospitality, affordable housing, and the Department of Defense.
The funding announcement also marks the appointment of former presidential candidate Will Hurd to ICON’s board of directors. Hurd’s previous investment in the company signifies his belief in the potential of 3D home printing to transform the housing landscape.
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