Californian construction start-up Mighty Buildings has raised a further $22 million in a funding round, bringing the total money raised to date by the firm to $100 million.
The company uses a combination of 3D printing, robotics and advanced composite materials to create sustainable housing options at scale. With its latest funds, Mighty Buildings will accelerate its carbon neutrality roadmap and further its strategic supply chain partnerships.
Mighty Buildings’ 3D printing technology
Having conducted R&D under the radar on its proprietary extrusion-based 3D printing technology since 2017, Mighty Buildings exited stealth mode last year after raised $30 million in funding. The company used the funds to set up its Oakland factory and scale its production line, enabling it to 3D print 350 square foot units.
Mighty Buildings was reportedly the first 3D printing construction business or product to gain UL 3401 certification, an important construction safety qualification. The company’s proprietary 3D printing material is central to its extrusion-based production technique. The lightweight material is able to harden almost immediately after UV post-curing, while still maintaining cohesion with its underlying layers. The material’s freezing ability enables the creation of ceilings and overhangs without relying on any underlying support structures.
In February, Mighty Buildings raised a further $40 million in Series B funding which it has used to accelerate its growth, expand its team, and increase its production capacity and automation capabilities. The company is also creating a sustainability-focused B2B developer platform, and the investment will help it to achieve its vision of providing production-as-a-service to architectural clients.
A month later, the firm revealed plans to 3D print a fifteen-strong neighborhood of eco-friendly homes at a five-acre site near Coachella Valley. The company will use its ‘Mighty Kit’ system to sustainably build the houses in a process that will supposedly eliminate 99 percent of construction waste.
That latest funding round
Mighty Buildings has raised $22 million in its latest financing round, bringing the total raised by the firm to $100 million. The funding round saw participation from both existing and new investors, including the likes of ArcTern Ventures, Core Innovation Capital, Decacorn Capital, Gaingels, Khosla Ventures, Klaff Realty, MicroVentures, Modern Venture Partners, Polyvalent Capital, and Vibrato Capital, among others.
Essentially, Mighty Buildings will use the funds to ramp up the building of its high-throughput sustainable micro-factories and entering into more strategic supply chain partnerships. The funds will also help the company to accelerate its ‘blue skies’ technology research and develop new composite building materials from recycled and bio-based feedstock.
The firm’s goal is to build a network of micro Mighty Buildings factories that could potentially produce 200-300 homes per year, in locations where housing gaps exist.
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Featured image shows Mighty Buildings’ new 3D printed houses are set to be fully-solar-powered. Image via Mighty Buildings/EYRC Architects.