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ICON Technologies Inc., known for building homes using 3D printing, is making significant changes by laying off 114 employees, as reported in a WARN letter to the Texas Workforce Commission. This decision comes as the company aims to refocus its team and resources on key growth areas. Since its founding in 2017, ICON has made waves in the industry, including unveiling the first permitted 3D-printed home in the U.S. at SXSW in 2018.
Tech and VC heavyweights have been taking notice, with over $450 million raised in funding from investors such as Tiger Global Management and Norwest Venture Partners. The company’s most recent funding round in 2022 valued ICON at nearly $2 billion. Despite these successes, the upcoming layoffs raise questions about the company’s workforce size and future direction.
Looking ahead, ICON is prioritizing the development of its Phoenix line of multi-story 3D printers and plans to expand its reach in residential, hospitality, and social/affordable projects. While the company remains committed to revolutionizing construction with intelligent machines, it will operate with a more streamlined team moving forward. This shift underscores ICON’s ongoing mission to build a better future through innovative technology.
