Based in Oakland, CA, the construction technology company Mighty Buildings raised $22 million last month, increasing its total funding to more than $100 million as it goes after the sustainable construction market. Mighty Buildings pursues a goal of creating net-zero carbon emission homes by 2028.
Mighty Buildings focuses on large-format 3-D printing, advanced materials, and automation. In addition, they claim that they will reach their sustainability goals through micro-factories, strategic supply chain partnerships, and accelerating research of composite materials based on recycled or bio-based feedstock.
“As a founding team, we have been long passionate about solving productivity for construction in a sustainable way. We have spent four years figuring out what it takes to achieve that. We believe that we have a master plan now that can work,” co-founder and CEO Slava Solonitsyn told Composite World.
The company’s micro-factories would produce 200-300 homes per year with 3-D printing and robotics. They say that their technology will be quick, local, and scalable.
Mighty Buildings currently uses a 3-D printing method that eliminates 95% of construction waste. They seek to base it locally and increase energy renewability. Investors like the idea.
“Between the pandemic, corporate relocation and expansion, and broader market trends, the housing situation in some localities is quite strained,” says Alexey Dubov, co-founder and COO of Mighty Buildings. “That’s why we’re reaching out to developers and cities across the country to help assess and ease some of those difficulties. We hope the initial investment will serve as a model for how we as a society can address some of the urgent challenges we face.”
Fundraising efforts deployed by Mighty Buildings could be a step in the direction toward net-zero carbon emissions construction.