A leading construction 3D printing technology company focusing on environmentally friendly and climate-resilient homes, Mighty Buildings has announced the completion of a $52 million funding round.
The round was co-led by Wa’ed Ventures, a $500 million innovation-focused venture capital fund backed by Saudi Aramco and BOLD Capital Partners, an American disruption and transformation-focused venture firm.
Khosla Ventures, an existing investor, and new investor KB-Badgers, a South Korean fund focused on advanced manufacturing, automation, and sustainability, were among a total of close to 20 investors.
Mighty Buildings stated that the investment demonstrates strong investor confidence in its technology
Funding is to be allotted to hasten development and scale production of new homes for the US market, in addition to establishing manufacturing operations in Saudi Arabia and the United Arab Emirates.
The company says that creating operations in the Gulf region aligns with Mighty Buildings’ strategy to transform housing construction worldwide, while at the same time addressing sustainability, climate resilience, and the global housing shortage.
Fahad Alidi, Managing Director at Wa’ed Ventures, explained: “The team at Mighty Buildings has reaffirmed our confidence in the incredible and diverse potential for innovation lying within the construction tech industry. Our investment in the company reflects our belief that innovative materials, as those used in Mighty Buildings’ proprietary 3D printing, will be a major driver for scalability and sustainability of homebuilding in the Gulf Region.”