Icon, headquartered in Austin, USA, is one of the biggest players in the 3D printed real estate sector. The company announced the completion of a $200 million D round of financing on October 13, co-led by Baillie Gifford and BlackRock's funds. This round of financing brought Icon's cumulative financing amount to US$700 million, and the company's valuation was US$1.4 billion. This round of financing follows Icon's latest technology, the Titan multi-layer robotic 3D construction system, which was officially commercialized in March of this year. Icon's previous technology only allowed the construction of single-story buildings. According to Icon, Titan can also reduce the average construction cycle of a home by six weeks, reduce the number of workers needed, and reduce overall costs by 40%. Jason Ballard, co-founder and CEO of Icon, said, “We're always looking for an investor base that can help physical construction companies move from the early stage of startup verification to scale.” He mentioned Baillie Gifford's investment experience in companies such as Nvidia, Tesla, and SpaceX, as well as BlackRock's huge real estate portfolio. “This is truly a world-class achievement for us.”
Zhitongcaijing · 1d ago
Share
Listen to the news
Icon, headquartered in Austin, USA, is one of the biggest players in the 3D printed real estate sector. The company announced the completion of a $200 million D round of financing on October 13, co-led by Baillie Gifford and BlackRock's funds. This round of financing brought Icon's cumulative financing amount to US$700 million, and the company's valuation was US$1.4 billion. This round of financing follows Icon's latest technology, the Titan multi-layer robotic 3D construction system, which was officially commercialized in March of this year. Icon's previous technology only allowed the construction of single-story buildings. According to Icon, Titan can also reduce the average construction cycle of a home by six weeks, reduce the number of workers needed, and reduce overall costs by 40%. Jason Ballard, co-founder and CEO of Icon, said, “We're always looking for an investor base that can help physical construction companies move from the early stage of startup verification to scale.” He mentioned Baillie Gifford's investment experience in companies such as Nvidia, Tesla, and SpaceX, as well as BlackRock's huge real estate portfolio. “This is truly a world-class achievement for us.”
Disclaimer:Webull uses external vendor Google Translation Service for news translations where we endeavour to ensure these are correct, however, we recommend that you please double-check this information accordingly. Webull is not responsible for translation errors or issues.
What's Trending