ICON Technologies Inc., a pioneer in 3D-printed housing solutions, is set to lay off 114 employees, as indicated in a WARN letter submitted to the Texas Workforce Commission.
A spokesperson from ICON confirmed the development to StartupSuperb, stating that the company made a “difficult decision to re-align” its workforce to focus on key priorities and to enhance investments in significant growth opportunities.
ICON was established in late 2017 and made its debut at SXSW in March 2018 with the launch of the first permitted 3D-printed house in the United States. This 350-square-foot home took approximately 48 hours to print at a speed of 25%.
Since its inception, the Austin-based ICON has garnered over $450 million in funding from notable investors including Tiger Global Management, Norwest Venture Partners, 8VC, among others. In February 2022, during its last funding phase—a $185 million extension of a Series B round—ICON reportedly reached a valuation nearing $2 billion.
The exact number of staff remaining at ICON after the layoffs, scheduled for March 8, remains unclear. According to the Austin Business Journal, ICON had approximately 400 employees prior to these layoffs, which means that a reduction of 114 employees would represent over 25% of its workforce. A spokesperson mentioned that ICON had “less than 400 employees” before this downsizing.
During its last funding round, the startup claimed to have successfully delivered more than two dozen 3D-printed homes and structures across the United States and Mexico. Notably, over half of these homes were constructed for individuals experiencing homelessness or those facing chronic poverty. For instance, in 2020, ICON collaborated with nonprofit partner New Story to deliver 3D-printed homes in Mexico. Additionally, it completed a series of homes designed for the chronically homeless in Austin, Texas, with nonprofit Mobile Loaves & Fishes.
The startup made significant inroads into the conventional housing market in early 2021, introducing what it claimed were the first 3D-printed homes available for sale in the U.S., developed for 3Strands in Austin, Texas.
In October 2021, ICON unveiled a collaboration with Lennar, one of the country’s leading homebuilders, which also invests in ICON through its venture arm, LENx.
A spokesperson for ICON informed StartupSuperb on Thursday that the company’s main priority is to expedite the development of Phoenix, its advanced line of multi-storey 3D printers, and to enable builders to access this robotic technology.
“While our mission continues to be the creation of innovative machines to shape humanity’s future, we will also proceed to design and construct a range of pivotal projects in residential, hospitality, social/affordable housing, as well as initiatives within the Department of Defense with a more efficient team,” the spokesperson elaborated.
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