Austin-based 3D home printing startup Icon raises $56M just a month after big layoffs
AUSTIN (KXAN/ABJ) — One month after saying it would lay off more than 100 employees, ICON Technology Inc., a 3D printing company valued at around $2 billion, disclosed in a federal filing it has raised $56 million.
Regarding the layoffs, Icon said it needed to realign to focus on its newest robotic system, which is capable of printing multistory homes and buildings using a new, low-carbon material.
The $56 million was from investors and represents the initial close of a planned $75 million series C funding round.
“We are excited for the opportunity to continue partnering with world-class investors, board members and organizations,” an Icon spokesperson said in an email to ABJ. “This fundraise will accelerate the development of Phoenix, our line of multistory 3D printers, and we look forward to putting the robotic technology into the hands of builders around the world.”
According to a WARN Notice filed by ICON, the layoffs would occur March 8.
Read more at the Austin Business Journal.
