February 9, 2021

MightyStudio400x275Mighty Buildings, a construction company that uses technologies such as 3D printing, robotics, and automation to create affordable and sustainable homes, announced raising $40 million in Series B funding. The Oakland, Calif.-based company said it will use the new funding to accelerate growth and expand its team.

The round was led by Khosla Ventures and co-led by Zeno Ventures, with participation from returning investors Bold Capital Partners, Core Innovation Capital, and Foundamental. Mighty Buildings also added several new investors including ArcTern Ventures, Abies Ventures, Modern Venture Partners, Giant Ventures, MicroVentures, One Way Ventures, Polyvalent Capital, and others. To date, the company has raised more than $70 million from investors.

“Since our launch last year, we’ve seen massive demand and more than a tenfold increase in bookings for our accessory dwelling units (ADUs) product line, with B2B contracts secured for our single-family housing product line with forward-thinking developers,” said Slava Solonitsyn, CEO and co-founder of Mighty Buildings. “Despite launching in the midst of a pandemic, we are racing to fulfill the demand and orders for 2021 at our Mighty Factory in Oakland, California.”

Since its launch out of stealth mode five months ago, the company has produced, delivered, and installed numerous ADUs and is now taking orders for Mighty Houses - its newest product line. Later this year, the company will introduce its Mighty Kit System and new fiber-reinforced material for multi-story projects to the market.

The company uses 3D printing, robotics, and a proprietary thermoset composite material it calls Light Stone Material to help make construction more sustainable, efficient, and affordable compared to traditional construction.

“Given the rapid growth and emerging opportunity around sustainability and climate tech, we’re pleased to support Mighty Buildings in realizing their vision,” said Ryno Blignaut, operating partner at Khosla Ventures. “We’re enthusiastic about the ways 3D printing, robotics, and automation can be applied to the creation of beautiful, affordable, and sustainable net-zero energy homes.”

The company said it also plans to scale production capacity with increased automation and built out a B2B platform for developers with sustainability as a core focus. The company’s vision is to provide a production-as-a-service offering, with builders and architects designing their own structures and then developers using Mighty Factories to produce them at scale.

More details on the company and its offerings are at its website.