$52 million for 3D-printed prefab homes from Mighty Buildings

US startup Mighty Buildings has raised $52 million in a funding round. The company plans to use the money to further distribute its 3D-printed prefabricated houses.

Mighty Buildings produces component kits that can be used to assemble complete houses. The elements are manufactured using a 3D printing technology developed in-house. According to Mighty Buildings, this makes it possible to build houses much faster and at a lower cost.

So far, the company, founded in 2017, says it has generated revenues of $5 million. It now plans to use the fresh capital to expand, including in the Middle East. Mighty Buildings has so far supplied its prefab kits primarily to developers in the United States.

According to CEO Scott Gebicke, 3D printing technology is intended to provide an alternative to traditional construction methods in light of the shortage of skilled workers in the construction industry. Additive manufacturing enables accelerated, scalable and cost-efficient mass production of houses, the startup advertises.

Whether the fledgling technology will catch on in the long run remains to be seen. Mighty Buildings competes with several other providers of 3D-printed houses and prefabricated building components.