Construction tech startup Mighty Buildings has raised $40 million in a Series B round, the company said Tuesday. Mighty Buildings builds homes using 3D printing, robotics and more sustainable materials.
The company, which came out of stealth in August 2020, says it can take care of the entire homebuilding process from permitting to appliance installation. “We aim to unlock productivity in construction by introducing new materials, 3D printing and robotics to the industry,” Chief Operating Officer Alexey Dubov said in an interview with Crunchbase News. “Basically, what we are making a reality is to be able to build in a more sustainable, efficient and affordable way.”
Construction and real estate tech has been an active area for investment in the last year with home sales climbing. Companies in the construction tech space raised $918 million in total funding in 2020, according to Crunchbase data. Mighty Buildings created a proprietary building material similar to a synthetic stone that can be 3D printed, making the building process faster and with zero waste, Dubov said. Mighty Buildings’ material can also maintain a structure’s temperature better than concrete, wood, or steel, according to the company. Khosla Ventures and Zeno Ventures co-led the round, […]
Above: PepsiCo food, snack, and beverage product line-up/Source: PepsiCo PepsiCo turned to tooling with 3D printing...