Mighty Buildings raises $52 million to accelerate global homebuilding expansion

As of Sep. 12, Mighty Buildings (Oakland, Calif., U.S.) has raised $52 million in funding. This latest round demonstrates strong investor confidence in Mighty Buildings’ off-site 3D printing construction technology. Total funds raised since inception now reach $150 million.

The round was co-led by Wa’ed Ventures (Dhahran, Saudi Arabia), the $500 million innovation-focused venture capital fund backed by Saudi Aramco, and by Bold Capital Partners (Santa Monica, Calif., U.S.), a disruption and transformation-focused venture firm. Existing investor Khosla Ventures (Menlo Park, Calif., U.S.) and new investor KB-Badgers, a South Korean fund focused on advanced manufacturing, automation and sustainability, were among a total of almost 20 investors in the round. New investors contributed more than half of the funds raised.

Funding is earmarked to accelerate development and scale production of new homes for the U.S. market, where new home demand continues to increase, as well as to establish manufacturing operations in Saudi Arabia and the United Arab Emirates, reportedly two of the largest and fastest growing construction markets in the world. 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 has delivered more than 50 sustainable, prefabricated housing units to date (read, “Mighty Buildings completes 3D-printed zero net energy home, expands B2B growth”). Its mission is to make it easier, faster and more cost-effective to build homes, while pushing the construction industry towards low-carbon, climate-resilient solutions.

Following the opening of its innovative, industrial-scale factory in Monterrey, Mexico, the company continues to emphasize its strategy of transformative home building. Mighty Buildings’ patented factory-based 3D printing manufacturing process speeds construction by three to four times, providing for the completion of a home’s envelope in less than one week with less water and near zero waste. Using its patented Lumus material, which is said to be five tims stronger than concrete, the technology of Mighty Buildings creates climate-resilient homes that resist severe weather, hurricanes and earthquakes.