Participated · Series C · Feb 2025

ICON develops large-scale 3D printers and materials to construct homes and other structures, and launched its first permitted 3D‑printed house after debuting at SXSW in 2018. The company is focused on deploying Phoenix, a new line of multi‑story robotic 3D printers that use a low‑carbon building material and aim to put the technology into the hands of builders. ICON still designs and builds a selection of projects itself across residential, hospitality, social/affordable housing and Department of Defense work. Over the years the company says it has 3D‑printed nearly 200 homes and structures in the U.S. and Mexico. The startup has raised more than $500 million to date, recently underwent a workforce realignment that included letting go of 114 employees, and presently has about 200 employees. Former presidential candidate and Congressman Will Hurd, a prior investor, has joined ICON’s board. ICON develops and constructs homes using 3D printing technology. Its core product is 3D-printed houses. The article reports that ICON raised $185 million. The piece does not provide details on investors, the financing instrument, valuation, or terms. No operating metrics (revenue, user numbers, or number of homes built) are given in the article. Reader comments on the article noted that the cost of the homes was not stated. ICON is an Austin, Texas‑based construction technology company that builds 3D‑printed single‑family homes and larger structures using proprietary Vulcan printing systems, robotics and advanced materials. Its Vulcan technology is positioned to produce resilient, energy‑efficient homes faster and with less waste; the new Vulcan can print up to 3,000 sq ft and is reported to be 1.5x larger and 2x faster than the prior system. The company has delivered more than two dozen 3D‑printed homes and structures across the U.S. and Mexico, including projects for homeless and low‑income populations with partners such as New Story and Mobile Loaves & Fishes. ICON has expanded into mainstream housing (including homes for sale) and launched an Exploration Series (House Zero) optimized for 3D printing, and it is working with NASA on habitat projects including Mars Dune Alpha. The company reports roughly 400% year‑over‑year revenue growth nearly every year, has tripled its team to over 100 employees and expects to double headcount within the next year. ICON says it will use new funding to scale construction of 3D‑printed homes, accelerate R&D and advance its space‑based construction efforts. Icon develops advanced construction technologies centered on proprietary 3D-printing robotics, software and advanced materials. The company intends to use the new funds to expand its team across robotics, off-planet construction, materials science, software engineering, architecture, building science and operations. It will also accelerate development of its printers, create a variety of home types and designs, and enhance its core technology stack. The $35M Series A brings Icon’s total funding since launch to $44M. Icon previously announced $9M in seed funding in October 2018 led by Oakhouse Partners with participation from Cielo Property Group, D.R. Horton and Emaar, among others. Led by co-founder and CEO Jason Ballard and based in Austin, Texas, Icon has launched printers and printed a home (March 2018), introduced its Vulcan technology stack in 2019, and delivered projects in the U.S. and Mexico. In 2020 it delivered 3D-printed homes in Mexico with nonprofit New Story, completed homes for the chronically homeless in Austin with Mobile Loaves & Fishes, and partnered with the Defense Innovation Unit and U.S. Marine Corps on a field demonstration at Camp Pendleton; additional projects will be announced. ICON develops 3D‑printing robotics (the Vulcan printer), software and advanced materials to transform homebuilding. The company is focused on making affordable, dignified and sustainable housing available worldwide. In March 2018 ICON unveiled its first 3D‑printed home in Austin and secured a building permit. ICON plans to deliver strategic signature projects in the U.S. and abroad and to continue work with the nonprofit partner New Story. A second‑generation Vulcan printer is under development and slated for unveiling in 2019. The company is expanding its team with technical hires in robotics, advanced materials and software engineering.

Participated · Series C · Sep 2024

Dandelion Energy is an Arlington, VA–based home geothermal company led by CEO Dan Yates. The company recently launched the Dandelion Geo heat pump, which delivers high heating performance. Dandelion positions itself to empower modern homeowners and home builders to adopt premium, emissions-free heating without a premium price tag. It plans a two-pronged nationwide expansion: distributing its heat pump technology to installers and homeowners, and implementing large projects for production home builders and multifamily developers. Financially, the company completed a $40M Series C and previously raised $70M in a Series B1 in 2022. Founder Kathy Hannun was included on CNBC’s inaugural Changemakers List and the company added Lauren Howard as Chief Revenue Officer in 2024. Dandelion Energy builds and installs residential geothermal heat pump systems that include wifi-enabled monitoring to help homeowners replace fossil-fuel heating and cooling. The company focuses on making geothermal accessible and affordable for modern homeowners. Led by CEO Michael Sachse, Dandelion targets both retrofit and new-construction markets. It plans to use recent funding to expand those markets and to develop a broader range of products to serve more customers and geographies. The company has completed its 1,000th geothermal installation, an operating milestone cited in the article. Dandelion Energy develops and installs geothermal heating and cooling systems for homes, aiming to reduce carbon emissions and remove reliance on purchased heating fuel. The company aligns federal, state, and utility incentives so homeowners can upgrade to geothermal for less than their current heating and cooling costs. Led by CEO Michael Sachse and based in Peekskill, N.Y., Dandelion has built a virtual sales and design process and expanded operations into Connecticut. In 2020 the company surpassed 100,000 tons of carbon emissions avoided. Dandelion intends to use the new funds to expand operations further while continuing to invest in research and development. Its total funding after the raise stands at $65M. Dandelion Energy sells affordable residential geothermal heating and cooling systems intended to replace gas, oil, propane, and electric heat. The company began at Alphabet’s X lab and launched as an independent business in New York City in May 2017; it now operates out of New York City and Upstate New York. Over the past year Dandelion tripled its customer base and employee headcount, and it cites product‑market fit as it scales operations. The company plans to expand operations and further invest in research and development to support continued growth and innovation. Dandelion’s mission is to enable widespread adoption of geothermal by delivering a cost‑effective, fossil‑free home heating and cooling product. Leadership changes include Michael Sachse being named CEO while co‑founder Kathy Hannun transitions to President to focus on product innovation. Dandelion Energy develops smaller-scale geothermal heating and cooling systems for residential homes, using a compact drilling approach that enables one-day installations. Its heat pump is a connected device with about 60 sensors to monitor performance and enable proactive alerts. Installations cost roughly $20,000–$25,000, with the company claiming homeowners can save about $35,000 over 20 years; roughly 50% of customers finance installations. Dandelion has accrued a waitlist of “thousands” of homeowners and currently offers services only in New York. The company plans to use new funding for R&D, hiring, opening warehouses for equipment and supplies, and business development to expand beyond its current market. Kathy Hannun is the CEO and the company spun out from Alphabet X in May 2017.

Led · Series B · Jan 2023

Greyter Water Systems, based in Denver, CO, manufactures The Greyter HOME, an NSF 350 certified, fully automated water recycling system for family homes. The system captures water from showers and bathtubs, treats it to near-potable quality, and supplies clear, odor-free water for toilet flushing. The company also sells water reuse solutions for multi-unit, commercial, and industrial buildings. Led by CEO and founder Mark Sales, Greyter positions its product for builders focused on sustainable, water-efficient homes and communities. The business raised growth capital to scale operations and meet increasing builder demand. The company intends to use the proceeds to expand its ability to serve builders and projects seeking water-efficient solutions. Greyter Water Systems Inc. produces the Greyter HOME™, an NSF 350 certified household water recycling system that captures shower and bath water to be reused for toilet flushing. The system collects greywater, screens out hair and large solids, ultra-filters microorganisms and remaining solids, then processes the water to remove soaps and surfactants before storing it for toilet flushing. Excess greywater is sent down the drain, and the system can top up from municipal water lines when recycled water is insufficient. Led by CEO and co-founder Mark Sales, the company aims to reduce interior household water consumption by substituting treated shower water for drinking water in toilets. Greyter closed a $3 million Series A and plans to use the proceeds to scale the business, add staff, and expand inventory and production capacity. The company is based in Tucson, Arizona.

Led · Series A · Jul 2022

Terra produces a low-carbon cement alternative derived from abundant silicate rock that can replace up to 50% of Portland cement in standard concrete mixes. The product reportedly lowers carbon emissions by up to 70% and nitrogen oxide emissions by as much as 90% per ton of cement replaced, and is compatible with existing production processes. Terra is Golden, Colo.-based and has moved beyond lab scale to commercial deployment, breaking ground on a Cleburne, Texas plant in December that is expected to be the first U.S. commercial-scale facility of its kind. Its recent financing round, now $147 million in Series B funding after All Aboard’s $22 million coinvestment, is intended to help construct that plant. The company’s market positioning emphasizes ease of integration with current concrete production and significant emissions reductions versus conventional Portland cement.

Participated · Series D · Mar 2022

Veev began as a traditional real estate developer and asset manager and formally pivoted to vertically integrated, prefabricated homebuilding after 2017. The company produces panelized homes in a 50,000-square-foot "Digital Fab" using digital fabrication (CNC, cold-formed steel) and ships near-finished walls with MEP included. Veev says its system builds homes up to 4x faster than traditional methods, reduces CO2e by about 47% versus conventional materials, and is positioned to replicate Digital Fabs near regional demand. Management declined to disclose revenue but expects profitability within two years and projected production to be ~382% higher in 2022 versus 2021. The company plans to use new capital to scale operations, expand construction and distribution to new markets (including further work in Southern California and Texas) and accelerate R&D. Veev also sells an end-to-end operating system that serves as an interface between homeowners and their homes. Veev vertically integrates the entire homebuilding process, including design, materials and manufacturing, to deliver homes and an improved living experience. Led by CEO and co-founder Amit Haller, the company has launched an Accessory Dwelling Unit offering and completed a 78-unit emergency housing project with the City of San Jose in under 90 days. Veev is partnering with local and national developers to expand its footprint in California. The company raised $100M through a listing on TASE UP. It intends to use the funds to continue to expand operations and its business reach. The financing follows the key milestones of the ADU launch and the emergency housing project. Veev develops an off-site, panelized building system manufactured in digital fabrication facilities and assembled on-site to reduce time, waste and cost compared with traditional construction. Key components include light gauge steel framing, high-performance acrylic surfaces and millwork, radiant climate control, and a digital home ecosystem. The company is focused on high-performance multifamily and accessory dwelling unit (ADU) products, currently targeting the San Francisco Bay Area market. Veev’s development pipeline totals more than 230 units and 620,000 gross building square feet. The company has grown to more than 260 team members, recently consolidated subsidiaries in 2019, and implemented an Employee Stock Ownership Plan for employees. Veev was originally established in 2008 and maintains its headquarters and fabrication facility in the San Francisco Bay Area with an office in Tel Aviv.