ICON, a global company known for its advanced construction technology, has raised $200 million in a Series D funding round. The round was co-led by Baillie Gifford and funds managed by BlackRock, with participation from Capital Factory, CAZ Investments, Moderne Ventures, Moonshots Capital, Norwest, Overmatch, The Syndicate, Tiger Global, and other investors.
The company will use the funding to increase production and deployment of its robotic construction systems and open a large-scale research and development facility in Austin, Texas. The investment will also support the development of its next-generation technologies, including Titan and Olympus, while helping ICON expand its operations across Texas, Florida, Washington, D.C., and other U.S. markets.
“When we started ICON, we believed intelligent machines could fundamentally change the way the world builds. What the last decade taught us is that belief only matters if you can back it with real structures, real deployments, and real demand. We have all three,” said Jason Ballard, co-founder and CEO of ICON. “Construction automation has crossed from potential into proven reality. This round puts that reality in builders’ hands: more Titan systems deployed across the country, deeper capability in housing, commercial, and defense, and continued work on the technology that will one day build humanity’s first structures beyond Earth. I believe we can imagine an end to the global housing crisis in our lifetime. We are grateful to the partners, builders, and investors who believed in this mission long enough to see it arrive.”
“The industries hardest to change often have the most to gain, and the companies that transform them tend to become some of the most important of their generation,” said Luke Ward, Private Companies Investment Manager at Baillie Gifford. “ICON’s construction system is compelling not just for its technology, but because it works with, rather than against, the business realities that shape a project’s success. With it, builders can take on more work, owners can get better value for money, and communities can get more of what they need, sooner. As long-term investors, we look for exactly this kind of big opportunity for our clients, paired with patient, compounding execution, and we’re leading this round to support Jason and the team as they introduce this capability to the wider industry.”
ICON is a leading construction technology company that uses robotics, smart software, and advanced materials to change how buildings are designed and built, both on Earth and beyond.
