ICON, the Austin-based 3D printing construction company, has secured $56 million in Series C funding, co-led by Norwest Venture Partners and Tiger Global. The raise marks a first close, with an additional $75 million planned. Existing investors CAZ Investments, LENX, Modern Ventures, Oakhouse Partners, and Overmatch Ventures also participated.
ICON declined to disclose its new valuation, but at its last funding round in 2022—when it raised $185 million in a Series B extension—its valuation was reportedly approaching $2 billion.
Expanding 3D Printing Technology
The new funding will primarily support the development of Phoenix, ICON’s multi-story robotic 3D printer, enabling low-carbon, multi-story construction. The company aims to place its robotic technology directly into the hands of builders.
Continued Homebuilding Initiatives
Despite expanding its technology offerings, ICON continues to design and build homes across multiple sectors, including:
- Residential and hospitality projects
- Social and affordable housing
- S. Department of Defense projects
To date, ICON has 3D-printed nearly 200 homes and structures in the U.S. and Mexico, including disaster relief housing, military barracks, and NASA-related projects.
Leadership and Workforce Updates
Former U.S. Congressman Will Hurd has joined ICON’s board of directors. Earlier this year, the company laid off 114 employees to re-align resources toward key priorities. Currently, ICON has around 200 employees.
With this latest investment, ICON continues to push the boundaries of robotic 3D printing in construction, aiming to revolutionize housing affordability and sustainability.
