Mighty Buildings Raises A Total Of $100M To Make Carbon-neutral 3D Printed Homes A Viable Option
OAKLAND, Calif., July 13, 2021 /PRNewswire/ -- Mighty Buildings, a construction technology company that is revolutionizing the construction industry by using 3D printing, advanced materials, and robotic automation to create beautiful, sustainable, and high-quality homes, has raised an additional $22M to accelerate their carbon neutrality roadmap. The company has secured a total of $100M in funding to date. The company announced today that they are moving towards a low carbon and sustainable future and has committed to get to Net-Zero by 2028 -- 22 years ahead of the construction industry. This round is supported by new and existing investors excited about the Sustainability Roadmap acceleration, such as ArcTern Ventures, Core Innovation Capital, Decacorn Capital, Gaingels, Khosla Ventures, Klaff Realty, MicroVentures, Modern Venture Partners, Polyvalent Capital, Vibrato Capital, to name a few.
With sustainability as the main focus in Mighty Buildings' engineering, design, and material selection, the company will be able to accelerate its carbon neutrality roadmap, which includes building high-throughput sustainable Micro-factories, strategic supply chain partnerships, accelerating blue skies technology research, and development of new composite materials produced from recycled or bio-based feedstock.
"As a founding team, we have long been passionate about solving productivity for construction in a sustainable way. We have spent four years figuring out what it takes to achieve that. We believe that we have a master plan now that can work," said Co-Founder and CEO, Slava Solonitsyn.
Mighty Buildings' longer-term vision is to use a combination of 3D printing, robotics, and advanced composite materials, paired with the latest in design thinking and strong supply chain partnerships, to create a network of micro Mighty factories. Such facilities can produce 200-300 homes per year in locations where housing gaps exist, creating sustainable housing options quickly, locally, and at scale.
"ArcTern Ventures invests in sustainable technology with the potential to create enormous social and environmental benefits," said Mira Inbar, Partner at ArcTern Ventures. "We're enthusiastic about how 3D printing technology and robotics automation can be implemented to create modern, high-quality, and sustainable net-zero energy homes."
"While we have already made significant progress towards our 2028 Carbon Neutrality goal with the next generation of our proprietary Light Stone Material (currently undergoing certification), this funding will allow us to accelerate our research into bringing the next phase of our roadmap to life and hopefully stepping beyond neutrality into true regeneration/circularity," said Co-Founder and Chief Sustainability Officer, Sam Ruben.
Currently, Mighty Buildings homes are designed with sustainability in mind, from a 3D printing construction process that eliminates 95% of construction waste, to the zero net energy finished product. On-site renewables and climate control technologies further reduce the environmental impact of Mighty Buildings homes, key features for both the occupants of the homes and the surrounding communities.
About Mighty Buildings
Mighty Buildings is a construction technology company that is dedicated to reimagining the building industry, from the factory to the foundation. By applying state-of-the-art automation and innovative new technologies, Mighty Buildings can 3D print structures twice as fast with 95% less labor hours and ten times less waste than conventional construction. Mighty Buildings works with compliance and regulatory agencies to develop future-forward materials that are tested to the most rigorous standards with nearly zero-waste production methods. Mighty Buildings projects range from pre-designed ADUs for homeowners to single family residential developments utilizing their unique panelized Mighty Kit System. Mighty Buildings is committed to making beautiful, sustainable, and high-quality homes a reality for more people. For more information, visit www.mightybuildings.com.
SOURCE Mighty Buildings
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