, an Oakland-based construction technology company that recently raised $40 million in Series B funding for its 3D-printed housing operation. The company\u2019s product line includes accessory dwelling units (ADUs), single-family homes and over-the-garage units with pricing from $186,750.<\/span><\/p>\nFinancing was co-led by venture capital firms Khosla Ventures and Zeno Ventures, along with returning investors Bold Capital Partners, Giant Ventures, Core Innovation Capital and Foundamental. They were joined by a number of new investors such as ArcTern Ventures, Modern Venture Partners and Polyvalent Capital.<\/p>\n
Mighty Buildings\u2019 six move-in ready models are manufactured in an Oakland production facility using 3D-printing, robotics and automation, and then delivered to their final destination. The smaller units, dubbed \u2018Mighty Mods,\u2019 come fully assembled, while the \u2018Mighty House Kits\u2019 require on-site installation.<\/p>\n
The company developed a thermoset composite material called Light Stone Material (LSM), which solidifies when it comes into contact with UV light. The product is inexpensive, lightweight, water and fire-resistant, and energy-efficient \u2014 a greener alternative to carbon dioxide-emitting steel and concrete production.<\/p>\n
\u201cMighty Buildings can 3D print structures 2x as quickly with 95% less labor hours and 10x less waste than conventional construction,\u201d explains a press release regarding the Series B funding announcement.<\/p>\n
While the company launched out of stealth mode in August 2020, it was formed in 2017 by co-founders Slava Solonoitsyn, Dmitry Starodubtsev, Alexey Dubov and Sam Ruben. Mighty Buildings has raised a total of $70 million in two rounds of funding and will use some of that capital to expand their team, bring the kit system to market, and introduce a new fiber-reinforced material for multi-story residences. They\u2019ve also recently partnered with California-based builders to ramp up the number of 3D-printed homes they can produce.<\/p>\n
\u201cDespite launching in the midst of a pandemic, we are racing to fulfill the demand and orders for 2021 at our Mighty Factory in Oakland, California,\u201d said Slava Solonitsyn, CEO and co-founder at Mighty Buildings.<\/p>\n
California\u2019s progressive ADU laws, aimed at increasing the stock of affordable housing, have spurred a \u2018backyard building boom.\u2019 Homeowners are able to make use of their extra space by constructing ADUs to generate rental income or accommodate an adult child or aging parent.<\/p>\n
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<\/a>Photo: Mighty Buildings\/Facebook<\/a><\/em><\/p>\n