Click For Photo: https://3dprintingindustry.com/wp-content/uploads/2018/10/1Wp2hGTQ.jpeg
ICON, a Texas-based construction technologies company, has raised $9 million in seed funding to reinvent the construction of affordable homes with the use of “3D printers, robotics, and advanced materials.”
Led by Oakhouse Partners, an early stage venture capital firm based in California, this financing is said to be one of the largest seed rounds for Texas startups in 2018.
Middle - Housing - Crisis - Approaches - Better
“We’re in the middle of a global housing crisis and making old approaches a little better is not solving the problem. We couldn’t be happier with the team of global investors who are supporting ICON in our belief that the homebuilding industry needs a complete paradigm shift,” stated Jason Ballard, Co-Founder, and CEO of ICON.
ICON’s first 3D printed home in Austin, Texas. Photo via ICON.
Year - ICON - Partner - New - Story
Earlier this year, ICON and its non-profit partner New Story, created the first permitted, 3D printed home in Austin, Texas using its Vulcan 3D printer, at a cost of less than $4000. According to Ballard, as a result of this 350-square foot house, which took approximately 48 hours, construction of the home became a proof of concept for investors.
“What the ICON team has accomplished in such a short period of time is not only a transformational breakthrough in homebuilding, it is an inspiration for the entire world to think outside the box about how humanity will confront the global housing crisis,” said Jason Portnoy, Managing Partner at Oakhouse Partners.
Investors - Seed - Funding - Round - DR
Additional investors within the $9 million seed funding round included D.R. Horton, Emaar, Capital Factory, CAZ Investments, Cielo Property Group,...
Wake Up To Breaking News!