10-17-2018: ICON secured $9 million in funding
It helped propel the development of one of the most important companies in the 3D printing construction sector
On October 17, 2018, ICON, a Texas-based startup, took a significant step in advancing 3D printing technology for homes by raising $9 million in a seed round. ICON's goal is to completely change the approach to construction and create affordable homes using 3D printers, robotics, and advanced building materials.
ICON was founded in 2016 by Jason Ballard, Evan Loomis, and Alex Le Roux in Austin, Texas. The company's mission was to address the global housing crisis by creating affordable and dignified living conditions for people around the world. Two years later, ICON gained recognition and support from notable investors such as Oakhouse Partners, Vulcan Capital, D.R. Horton, Emaar, and Capital Factory.
ICON's first major success came in March 2018 with the creation of a prototype 3D-printed house that received a building permit in the United States. This project demonstrated the potential of ICON's technology and paved the way for the mentioned investments and development. The 350-square-foot 3D-printed house was built in 48 hours, significantly reducing the costs and time of construction compared to traditional methods. That same year, ICON introduced the first version of its 3D concrete printer called Vulcan.
In 2019, the company began working with the non-profit organization New Story on a project to print homes in low-income regions in Latin America, and a year later, ICON completed the construction of the first community of 3D-printed homes in Tabasco, Mexico.
In 2021, ICON secured another $207 million in funding, enabling further development and implementation of innovative solutions in the field of 3D-printed construction. The company unveiled the second generation of its Vulcan 3D printer, designed for building larger and more complex structures. ICON also partnered with the U.S. Department of Defense on a project to construct military infrastructure using 3D printing, and it received a contract from NASA to develop 3D printing technology for building structures on the Moon as part of the Artemis program.
A year ago, ICON completed the "House Zero" project, a showcase home designed in collaboration with the architectural firm Lake|Flato, which was fully 3D-printed using Vulcan technology. The company also announced a partnership with Lennar Corporation, one of the largest homebuilders in the U.S., to build the country's first community of 3D-printed homes.
Source: www.crunchbase.com