ICON has announced its $200 million Series D financing co-led by Baillie Gifford and funds managed by BlackRock with participation from Capital Factory, CAZ Investments, Moderne Ventures, Moonshots Capital, Norwest, Overmatch Ventures, The Syndicate, Tiger Global, among others.
The financing will fuel the manufacturing and deployment of ICON’s robotic construction systems, open a large-scale R&D facility in Austin, Texas, advance its next-generation construction technologies, including Titan and Olympus, and expand ICON’s footprint across Texas, Florida, Washington D.C., and new U.S. markets.
Jason Ballard, co-founder and CEO of ICON, said, “Construction automation has crossed from potential into proven reality. This round puts that reality in builders’ hands: more Titan systems deployed across the country, deeper capability in housing, commercial, and defense, and continued work on the technology that will one day build humanity’s first structures beyond Earth. I believe we can imagine an end to the global housing crisis in our lifetime. We are grateful to the partners, builders, and investors who believed in this mission long enough to see it arrive.”
The Series D financing will initiate the production and manufacturing of Titan, ICON’s multi-story robotic construction system, at the ICON factory located in Austin, Texas. The innovative print system is engineered to reduce the construction time of an average home by six weeks at 40% lower cost than the national average.**
FormCrete, ICON’s proprietary building material for 3D-printing, is engineered to deliver walls rated for 175+ mph wind versus 40 mph for traditional stick frames, and a 2+ hour fire rating versus 0.5 hours for conventional construction. ICON’s vertical integration across robotics, software, advanced building materials, and building design is what enables the platform’s efficiency and scalability.
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*Offer ends on Friday, 7th February.
