Executive Director

ICON raises $200M Series D to transform how the world builds. World-class investment firms Baillie Gifford and BlackRock co-lead financing as ICON is on pace for 4x revenue growth in 2026, launches first commercial rollout of Titan print system and surpasses 270 3D-printed buildings. October 13, 2026 08:30 ET | Source: ICON Technology AUSTIN, Texas, Oct. 13, 2026 (GLOBE NEWSWIRE) - ICON, the global leader in advanced construction technology, today announced its $200 million Series D financing 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, among others. The financing will fuel the manufacturing and deployment of ICON's robotic construction systems, open a large-scale R&D facility in Austin, Texas, advance its next-generation construction technologies, including Titan and Olympus, and rapidly expand ICON's footprint across Texas, Florida, Washington D.C., and new U.S. markets. "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..." "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..." "Construction automation has crossed from potential into proven reality, and this round is about putting that reality in builders' hands with more Titan..." "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..." "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." Construction is a $16 trillion global industry that has barely changed in half a century, leaving the U.S. roughly 4 million homes short of demand today. At the same time, the workforce that built the last century of housing is aging out: just 10% of U.S. construction workers are under 25, and 41% of the current workforce is expected to retire by 2031.* This structural crisis is one of the most consequential of our generation, and one ICON exists to solve. Today, the way humanity builds is fundamentally changing. This new era of construction is defined by intelligent machines, advanced building materials, and a digitally native approach designed to work together to build faster, at lower cost, and with significantly higher building performance. The Series D financing will initiate the production and manufacturing of Titan, ICON's multi-story robotic construction system, at the ICON factory located in Austin, Texas. The innovative print system is engineered to reduce the construction time of an average home by six weeks at 40% lower cost than the national average.** FormCrete, ICON's proprietary building material for 3D-printing, is engineered to deliver walls rated for 175+ mph wind versus 40 mph for traditional stick frames, and a 2+ hour fire rating versus 0.5 hours for conventional construction. ICON's vertical integration across robotics, software, advanced building materials, and building design is what enables the platform's efficiency and scalability. ICON presently operates three primary business units: Build, Tech, and Prime. Build is the foundation of everything ICON delivers, from resilient residential homes to commercial and hospitality buildings constructed with advanced robotic systems and materials. Tech is the engine powering a unified construction platform engineered to operate as one system, equipping builders to deliver structures faster, more sustainably, and at lower cost. Prime is ICON's dedicated defense and space division, deploying robotic construction systems to rebuild military readiness, strengthen national security infrastructure, and extend human presence beyond Earth. These distinct divisions reflect the company's evolution from proving a home-building technology to scaling a platform. ICON's expansion creates new opportunities for top talent to join a fast-growing company at the forefront of the most consequential reinvention of the built environment in a generation. ICON is on pace for 4x revenue growth in 2026. The company has built more than 270 homes and structures across five states and two countries, including Wolf Ranch in Georgetown, Texas, the world's first and largest community of 3D-printed homes, built with Lennar, more than a hundred homes for people experiencing homelessness in the U.S. through Community First! Village in Austin, and military installations for the U.S. Army. In January 2026, ICON broke ground on 10 barracks at Fort Bliss, the largest deployment of robotic construction technology in Department of War history and the first additively manufactured structures to meet the Pentagon's Unified Facilities Criteria. ICON Prime has been awarded more than $370 million in government contracts and continues to advance Project Olympus with NASA, developing the construction systems that will build on the Moon. About ICON ICON is the global leader in construction technology, developing robotics, intelligent software systems, and advanced materials that are changing the way the world builds on Earth and beyond. For more information visit www.iconbuild.com or follow the conversation on Instagram, X, Facebook, LinkedIn and YouTube (@icon3dtech). About Baillie Gifford Baillie Gifford is an independent investment manager founded in 1908, owned and run by 54 partners. While much has changed in 118 years, the firm's focus on seeking superior, long-term investment returns for clients remains constant. Baillie Gifford's mission is to identify game-changing companies capable of sustaining growth and delivering returns for decades to come. As at June 30, 2026, assets under management totalled $262bn // £197bn. Media Contact ICON: [email protected]

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