3D printing specialist for houses ICON reduces workforce by a quarter

ICON Technologies, a company specializing in 3D-printed houses based in Austin, Texas, has announced that it is laying off 114 employees. According to a statement to the Texas Department of Labor, this represents around 25% of the workforce. A spokesperson for the company said the decision was made to focus resources on strategic priorities and drive growth in key areas.

ICON was founded in 2017 and already caused a stir in 2018 with the first approved 3D-printed house in the USA. Since then, ICON has raised more than 450 million US dollars from investors such as Tiger Global Management and Norwest Venture Partners. After a financing round in early 2022, the company’s value was estimated at almost 2 billion US dollars.

To date, ICON has completed over 24 3D-printed homes and structures in the US and Mexico. The majority of these projects have targeted vulnerable populations, including the homeless and people living in chronic poverty. In collaboration with non-profit organizations such as Mobile Loaves & Fishes, ICON has built housing for the homeless in Austin, among other projects.

The company is now planning to focus more on the development of its new “Phoenix” printer series. This is intended to enable multi-story printing and increasingly find its way into the hands of construction companies. According to ICON, the goal remains to revolutionize the construction of residential and commercial properties in the long term. In addition to projects in the residential and hospitality sectors, social and military construction projects will continue to be implemented – albeit with a streamlined workforce.