Mighty Buildings – a leader in 3D printing construction technology known for its prefabricated, environmentally friendly, and climate-resilient homes – recently announced that it has raised $52 million in funding. This latest funding round demonstrates strong investor confidence in Mighty Buildings’ innovative offsite 3D printing construction technology.
The funding round was co-led by Wa’ed Ventures, the $500 million innovation-focused venture capital fund backed by Saudi Aramco and BOLD Capital Partners. Existing investor Khosla Ventures and new investor KB-Badgers (a South Korean firm investing from its sustainability-focused fund) were among a total of almost 15 investors in the round. The new investors contributed more than half of the funds raised.
This funding was earmarked to accelerate the development and scale production of new homes for the U.S. market, where new home demand continues to increase, and to establish manufacturing operations in Saudi Arabia and the United Arab Emirates, two of the world’s largest and fastest-growing construction markets. The addition of operations in the Gulf region aligns with Mighty Buildings’ strategy to transform housing construction globally while addressing sustainability, climate resilience, and the global housing shortage.
Mighty Buildings is meeting a rapidly growing demand for sustainable, prefabricated housing, as evidenced by delivering more than 50 units to date. This important milestone reflects the company’s progress in developing scalable housing technology. And by focusing on its mission, the company is making it easier, faster, and more cost-effective to build homes while pushing the construction industry towards lower carbon, climate-resilient solutions.
Following the opening of its industrial-scale factory in Monterrey, Mexico, in 2022, the company continues to emphasize its strategy of transformative home building. And Mighty Buildings’ patented factory-based 3D printing manufacturing process speeds construction by 3-4x, completing a home’s envelope in less than one week with drastically less water and near zero waste. Plus, using its patented Lumus material, which is 5x stronger than concrete, the technology of Mighty Buildings creates climate-resilient homes that resist severe weather, hurricanes, and earthquakes.
KEY QUOTES:
“The team at Mighty Buildings have reaffirmed our confidence in the incredible and diverse potential for innovation lying within the construction tech industry. Our investment in the company reflects our belief that innovative materials, as those used in Mighty Buildings’ proprietary 3D-printing, will be a major driver for scalability and sustainability of homebuilding in the Gulf Region.”
– Fahad Alidi, Managing Director at Wa’ed Ventures
“This recent funding underlines Mighty Buildings’ leadership in the modular homebuilding market. It will accelerate our growth by funding the international expansion to one of the most exciting homebuilding regions in the world. We are thrilled about the support from such esteemed investors for our mission: solving the housing and climate crises by transforming the way the world builds homes.”
– Mighty Buildings’ CFO Rene Griemens
