ICON

ICON specializes in constructing high-performance homes using 3D-printed technology. Its homes feature designs that prioritize sustainability and resilience, taking advantage of the possibilities offered by additive construction. Using its Vulcan robotic construction systems, advanced materials, and software, ICON claims to be able to deliver homes quickly and efficiently while reducing waste and resulting in energy-efficient homes. 

 The Vulcan construction system combines hardware, materials, and software to construct homes and large-scale structures. It comprises the Vulcan printer and Magma portable mixing unit, responsible for preparing ICON's proprietary building material, Lavacrete, for printing. The entire process is managed by the BuildOS software suite, which generates and prepares architectural designs and controls the on-site robotic hardware. Notably, the system is designed to be weather and environmentally conscious. The Magma unit adjusts and mixes ICON's Lavacrete material in real-time, ensuring optimal material performance during 3D printing for resilient and sustainable structures.  

ICON's Lavacrete, a type of high-strength concrete, demonstrates a compressive strength, ranging from 2,000 to 3,500 lbs per square inch (psi). Notably, in rigorous structural tests, ICON's wall system surpassed the minimum requirements set by building codes by over 350%. 

Key customers and partnerships

ICON and Lennar collaborated to build a community of 100 3D-printed homes in Texas Hill Country, co-designed with BIG-Bjarke Ingels Group, an architectural firm. 

ICON also initiated “Initiative 99,” a global architecture competition supported by AIA, Austin, de zeen, and ArchDaily. The competition's aim was to create accessible, aesthetically pleasing, and dignified 3D-printed homes that could be constructed for under USD 99,000. 

In March 2023, ICON collaborated with hospitality expert Liz Lambert and architecture firm Bjarke Ingels Group (BIG) to build the world's first hotel constructed using 3D-printing technology, El Cosmico, which was set to open in Texas, US, in 2024. 

Funding and financials

In February 2022, ICON raised USD 185 million in a Series B funding round led by Tiger Global Management. The funding was planned to be used to build more homes with its 3D-printing technology.