Austin's ICON Raises $200 Million to Scale Its 3D-Printing Construction Robot
The Austin startup closed a Series D at a reported $1.4 billion valuation, co-led by Baillie Gifford and BlackRock-managed funds.
ICON, the Austin company known for 3D-printed homes, announced a $200 million Series D on Oct. 13, co-led by Baillie Gifford and funds managed by BlackRock.
Press coverage put the round's valuation at about $1.4 billion. Other investors named in reports include Capital Factory, Norwest and Tiger Global.
What the money is for
The company said the capital will go toward producing Titan, its multi-story robotic construction printer, at its Austin factory, and toward advancing its Olympus technology. Reports also mention plans for a large-scale research-and-development facility in Austin.
ICON has built its reputation printing walls with concrete-like material, a pitch aimed at faster, more automated homebuilding at a time when Texas cities are wrestling with housing costs. The new round is a bet that its machines can move from pilot projects to repeatable production.
Sources: CBS Austin; Bisnow; Construction Dive.
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