Icon, an Austin, Texas-based developer of advanced construction technologies including robotics, software, and building materials, completed a $35M series A round of financing.
The round was led by Moderne Ventures with participation from BIG-Bjarke Ingels Group, CAZ Investments, Citi, Crosstimbers Ventures, Ironspring Ventures, Next Coast Ventures, Oakhouse Partners, Trust Ventures, Vulcan Capital and Wavemaker Partners. In conjunction with the funding, Constance Freedman, Founder and Managing Partner of Moderne Ventures, and Khan Tasinga, Director at Palantir Technologies, joined Icon’s Board of Directors.
The company intends to use the funds to expand the team with numerous roles across robotics, off-planet construction, materials science, software engineering, architecture, building science and operations, accelerate the development of its printers, create a variety of home types and designs and enhance its core technology stack.
Led by Jason Ballard, Co-founder and CEO, Icon develops advanced construction technologies that use proprietary 3D printing robotics, software and advanced materials.
The company launched its first 3D printer and secured a building permit and printed a home in Austin, Texas in March 2018. In 2019, the company launched its Vulcan technology stack and delivered strategic, signature projects in the U.S. and Mexico. In 2020, Icon continued to deliver 3D-printed homes in Mexico alongside nonprofit partner, New Story, completed a series of homes serving the chronically homeless in Austin, TX with nonprofit Mobile Loaves & Fishes at Community First! Village and partnered with the Defense Innovation Unit and United States Marine Corps to train Marines to operate its technology and complete a field demonstration print at Camp Pendleton. Additional projects will be announced in the coming months.
The investment brings total funding since launching to $44m. Icon announced $9m in seed funding led by Oakhouse Partners with participation from Cielo Property Group, D.R. Horton and Emaar among others in October 2018.