US-based advanced construction technology developer Icon completed a $35m series A round on Wednesday that included architectural firm BIG-Bjarke Ingels Group and banking group Citi.
Venture capital fund Moderne Ventures led the round, which also featured CAZ Investments, Crosstimbers Ventures, Ironspring Ventures, Next Coast Ventures, Oakhouse Partners, Trust Ventures, Vulcan Capital and Wavemaker Partners.
Icon combines 3D printing software, advanced materials and robotics in a system that allows it to design and build 3D-printed homes. It has built dwellings in Mexico and the US state of Texas and will break ground on additional projects this year.
The company also intends to expand its robotics, materials and building science, software engineering, architecture, operations and off-planet construction teams using the series A financing.
Bjarke Ingels, founder and creative director of BIG-Bjarke Ingels, said: “We believe additive manufacturing will play a transformative role in the future of construction and with our investment and partnership with Icon we can contribute actively to this ongoing transformation.”
The company had closed a $9m seed round in late 2018 led by Oakhouse Partners and backed by real estate developers DR Horton, Cielo Property Group and Emaar as well as Moderne Ventures, CAZ Investments, Vulcan Capital, Trust Ventures, Capital Factory, MicroVentures, Saturn Five, Shadow Ventures and Verbena Road Holdings.
Photo courtesy of Icon.
