With a total funding of $30M to date, Mighty Buildings is reimagining the building process from factory to foundation
SAN FRANCISCO (GLOBE NEWSWIRE) — Mighty Buildings, provider of automated solutions for modern home building, today announced its launch out of stealth. The company, which graduated from Y Combinator in winter 2018, has raised a total of $30 million from Khosla Ventures, Y Combinator, SV Angel, CoreVC, and others.
According to McKinsey, the construction sector misses out on up to $1.6 trillion of value per year that could be unlocked with higher productivity. By leveraging a combination of 3D printing and prefab techniques, Mighty Buildings has created a production-as-a-service platform that will automate up to 80% of the building process. Its unique approach is both project- and design-agnostic, and can create everything from small complex components to panels to full-size volumetric modules.
By being able to 3D-print more of the building structure, Mighty Buildings can build homes with 95% fewer labor hours at double the speed of conventional construction, with 10 times less waste. A 350-square-foot studio unit can be printed in under 24 hours.
Mighty Buildings is certified under California’s Factory Built Housing program to create units utilizing 3D printing, and was the first company to achieve certification under the UL 3401 standard for evaluating 3D-printed building structures and assemblies. To date, they have successfully installed their first two accessory dwelling units in San Ramon and San Diego, with additional units awaiting delivery.
“Because we’re building homes for people to live in, we’ve been very deliberate in carrying out our vision to make housing better. This isn’t software that can be debugged on the fly,” said Slava Solonitsyn, Mighty Buildings’ CEO and co-founder. “We’re now ready to scale our production with full confidence in our certifications and code compliance for both our material and technology.”
While the average traditional stick-built home in California costs $327 per square foot, Mighty Buildings homes cost up to 45% less than comparable homes. Its automated production costs are 20 to 30% lower than traditional prefab methods. An added advantage to Mighty Buildings’ prefab approach is its flexibility and efficiency for producing custom floor plans, even at the scale of a single unit. This is largely due to optimization via a software-driven, design-to-production process and the low cost of printing material.
“With a strong foundation in robotics, manufacturing, and sustainability, the Mighty Buildings founding team knows the different facets of the issues that face modern housing,” said Eric Migicovsky, Partner at Y Combinator. “Accessory dwelling units are just the start in further building out their unique approach to building.”
About Mighty Buildings
Mighty Buildings is a construction technology company dedicated to reimagining the building industry, from the factory to the foundation. By applying state-of-the-art automation and innovative new technologies, Mighty Buildings can produce 3D-printed structures 2x as quickly with 95% fewer labor hours and 10x less waste than conventional construction. Mighty Buildings works with compliance and regulatory agencies to develop future-forward materials that are tested to the most rigorous standards, with nearly zero waste production methods. Mighty Buildings projects range from pre-designed ADUs for homeowners to residential developments with custom floor plans for the nation’s largest homebuilders. Mighty Buildings is committed to making beautiful, affordable, and sustainable homes a reality for more people.