ICON Technologies Inc., which builds homes using 3D printing. filed a notice that 114 people were fired from their jobs. Texas Labor Commission.
A company spokesperson confirmed to TechCrunch that ICON recently made the difficult decision to realign its team and team size to focus on our highest priorities and continue to invest in our best growth opportunities. “
Icon Founded in late 2017 and launched at SXSW in March 2018, the first 3D-printed home to be approved in the US, the 350-square-foot house took 48 hours (at 25% speed) to print.
Over the years, Austin-based ICON is Tiger Global Management; Norwest Venture Partners; It has raised over $450 million in funding from 8VC and other investors. By the time of its latest raise in February 2022 – a $185 million expansion of the Series B round – ICON is said to be valued at “close to $2 billion”.
It is unknown how many employees ICON will have after the layoffs, according to the March 8 letter from The Austin Business Journal. reported. ICON has about 400 employees at “last count,” so the 114 layoffs are more than 25% of its workforce. A company spokesperson said only that ICON had “fewer than 400 employees” prior to these workforce reductions.
At its last upgrade, The startup says it has shipped more than two dozen 3D-printed homes and buildings across the United States and Mexico. More than half of those homes are built for people who are homeless or chronically poor. For example, In 2020, ICON delivered 3D-printed houses in Mexico with non-profit partner New Story. Austin with the nonprofit Mobile Loaves & Fishes. He also completed a series of houses serving the chronically homeless in Texas.
The startup is expected to enter the mainstream housing market in early 2021, it said. The first 3D printed homes are for sale. Austin, Texas for developer 3Strands in the US.
Then in October 2021 ICON announced. Partnership with LennarLENx is the country's largest homebuilder; He is an investor in startups through his ventures.
An ICON spokesperson told TechCrunch on Thursday that the company's priority is to accelerate development. PhoenixIts multi-story line of 3D printers “started putting robotics into the hands of builders.”
“While our mission remains to develop these intelligent machines to build the future of humanity, we will continue to design and build key projects with a more streamlined team within Residential, Hospitality, Social/Affordable and Defense,” the spokesperson added.
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