3D-home builder Icon raises $200M Series D at $1.4B valuation
What's the deal? ICON Technology has raised $200 million in a Series D round co-led by BlackRock and Baillie Gifford. The deal values the 3D-printing home builder at $1.4 billion and lifts its total funding to $700 million.
What's the endgame? Icon uses large-scale 3D printing to construct houses, a technology still early in commercial adoption. The fresh capital backs chief executive officer Jason Ballard's push to scale the approach.
Why it stands out: At $200 million, the round sits near the top of its peer group — in the roughly 93rd percentile for Series D rounds among US 3D-technology companies, based on a sample of 100 deals.
The signal: BlackRock and Baillie Gifford, two of the world's largest institutional investors, co-leading a round of this size marks a notable vote of confidence in a sector still in its infancy — and a bet that 3D printing can move from novelty to mainstream construction.
Read more: CNBC
Image credit: Creative Tools
