Based in 2017 and primarily based in Austin, Texas, ICON goals to revolutionize the homebuilding course of by means of proprietary supplies and 3D-printing. ICON plans to make 3D-printed homebuilding extra commonplace, tackling the challenges of extended development timelines. Let’s dive into ICON’s historical past and milestones to evaluate what would possibly make this firm stand out from different 3D-printing and development firms.
Assembly at Texas A&M, Jason Ballard and Evan Loomis based TreeHouse in 2008, a house improve firm targeted on sustainability and design. Their publicity to development led them to ask a easy query, “isn’t there a greater approach to construct homes that’s extra inexpensive AND sustainable?”
What Expertise?
After learning a number of development strategies, the pair decided that 3D-printing seemed to be the perfect various to conventional strategies. They believed the expertise can be cheaper, sooner, and really fitter to carry as much as excessive climate circumstances. Nevertheless, Ballard and Loomis lacked the technical data to show their concept right into a actuality.
How?
Ballard and Loomis reached out to Alexander Le Roux in 2017 – an engineer who was experimenting with the expertise. The three co-founded ICON and commenced looking for out traders to assist fund their concept. Nevertheless, traders seen the undertaking as science fiction and wished to see a prototype earlier than they may commit. After maxing out a number of private bank cards, the primary iteration of a residential 3D-printer was born: Vulcan I. ICON lastly debuted at SXSW in 2018 – displaying the primary permitted 3D-printed home within the U.S. The house had solely taken 24 hours to construct and represented the beginning of a brand new trade.[1]
ICON’s Merchandise
ICON makes use of a couple of {hardware} and software program merchandise to attain its mission of constructing residential homebuilding extra inexpensive, sooner, sustainable, and durable. Leveraging 3D printers, unique constructing supplies, and a software program package deal for design and administration, these instruments work in tandem to make up the ICON tech stack.
Proprietary Supplies
ICON has developed two forms of proprietary supplies that feed into its 3D printer iterations. The primary materials developed was Lavacrete, a cement-based combination that may be printed at excessive speeds and harden into its last type. In structural exams, ICON’s wall system constructed with Lavacrete surpassed constructing code design necessities by greater than 350%.
In March 2024, ICON introduced a brand new materials: CarbonX. Constructing on Lavacrete’s strengths, CarbonX claims to be the bottom carbon residential constructing system that may be scaled as much as undertaking measurement, reaching a 24% discount in carbon emissions. The discharge of this new materials marked a big step towards residential homebuilding that’s extra environment friendly, scalable, and sustainable.
3D Printers
Vulcan
ICON first debuted Vulcan at SXSW in Austin in 2018. Designed to 3D print single story homes with precision and velocity, the 3D printer printed a home in 24 hours.
Only a 12 months later, ICON debuted Vulcan II, the primary business development 3D printer with capabilities to construct 8.5 ft excessive and 28 ft large. Solely requiring 4-6 folks with fundamental coaching to function, Vulcan II took on the world’s first 3D printed group of fifty properties, positioned in Latin America. Aiming to supply native households in Tabasco, Mexico dwelling in excessive poverty an inexpensive housing answer, ICON unveiled the primary of the properties in December 2019.
Phoenix
On the similar SXSW occasion in March 2024 at which CarbonX was introduced, ICON unveiled its subsequent 3D printer, Phoenix. Outfitted with a robotic arm, Phoenix is the primary 3D printer that may print multi-story buildings and construct the complete constructing enclosure together with foundations and roofs. This iteration of ICON’s 3D printer claimed to chop manufacturing prices in half whereas growing velocity and measurement.
ICON Vulcan I
ICON Vulcan II
ICON PhoenixMixer
To feed the Vulcan and Phoenix 3D printers with Lavacrete and CarbonX, ICON created the Magma combine grasp system. The transportable system optimizes the supplies by mixing in components and water robotically primarily based on present climate circumstances on the development web site.
Software program
To enhance its 3D printers, proprietary supplies, and different {hardware} options, ICON has developed software program methods for undertaking administration and design.
Construct OS
ICON created BuildOS to attach the {hardware} elements of 3D-printed residential homebuilding. From producing ground plans and getting ready structure, BuildOS additionally controls the robotic {hardware} on-site to show the digital plans into bodily properties.
Vitruvius.ai
Introduced in March 2024, Vitruvius is an AI program that may assist ICON’s prospects design customized properties and obtain the related floorplans, streamlining the design course of. Having been skilled on constructing codes, structural engineering, and greatest development practices, Vitruvius goals to exceed human capability whereas lowering related prices.
ICON Milestones
ICON has achieved quite a few milestones throughout the previous few years. A number of the latest main highlights for ICON embrace:
- Chosen by DARPA in December 2023 to participate in a 10-year Lunar Structure functionality examine.
- Partnered with Lennar in October 2021 and commenced development on the biggest group of 3D-printed properties in December 2022, positioned in Georgetown, Texas.
- Obtained a $60 million contract from NASA in November 2022 to 3D print constructions on the moon, together with touchdown pads, habitats, and roads.
- Reportedly elevated income by 400% practically annually from 2017-2021
ICON Funding Rounds
ICON has raised over $451 million over 5 funding rounds. The next is a breakdown of the bigger named funding rounds.
Seed Spherical
In October 2018, ICON introduced closing $9 million in seed funding after debuting the Vulcan I printer and first 3D-printed home at SXSW. The spherical was led by Oakhouse Companions with participation from MicroVentures, D.R. Horton, Emaar, Vulcan Capital, and others.
Collection A / Enterprise Spherical
ICON went on to boost a further $35 million in Collection A funding in August 2020, including Moderne Ventures, BIG-Bjarke Ingels Group, and others to the rising listing of backers. The funding aimed to assist ICON scale up operations and help new initiatives.
Only a few months later, ICON filed a Type D in January 2021 outlining one other $15.5 million in funding in a enterprise spherical.[2]
Collection B/Extension
In August 2021, ICON raised a $207 million Collection B spherical led by Norwest Enterprise Companions with participation from Citi, 8VC, Fifth Wall, and others. Co-founder and CEO Jason Ballard stated throughout this spherical “We need to flip up the rate in a significant method and are able to scale…this spherical of funding will assist us do exactly that: sooner R&D, manufacturing and growth to the folks and locations that want this expertise.”
About 6 months later in February 2022, ICON raised an extension of its Collection B spherical, including one other $185 million in funding led by Tiger International. At this level, ICON had already delivered greater than 24 3D-printed homes throughout the U.S. and Mexico working with nonprofits to deal with these in homelessness and persistent poverty.
Collection C?
Whereas ICON hasn’t raised any new funding because it’s 2022 spherical, the corporate continues to safe authorities contracts, facilitate new partnerships, and innovate on 3D-printed homebuilding expertise.
Ultimate Ideas
Really the definition of a disruptor, ICON has been serving to to revolutionize the residential homebuilding course of by means of 3D printing since its founding in 2017. Taking over what was seemingly an not possible undertaking, ICON has continued to stretch the boundaries of what’s attainable in its aim of constructing homebuilding extra accessible when it comes to velocity, price, and sustainability. It might be fascinating to see what improvements ICON takes on and what their subsequent undertaking will likely be.
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[1] https://analysis.opposite.com/firm/icon
[2] https://www.sec.gov/Archives/edgar/knowledge/1751463/000175146321000001/xslFormDX01/primary_doc.xml
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