After raising an $8 million fundraiser just a few months ago, Diamond Age is back to replenish with a $50 million Series A commitment to its mission to make home ownership more affordable through the use of 3D printing and robotic technology. is a welcome change in a world where the US housing market is short of 7 million housing units.
The company describes itself as a “full-stack robotic startup” producing a suite of tools designed to replace more than half of the manual labor required to build a new home. A side effect of adding a bit of robotics is that houses that used to take nine months to build can now be built in about a month. The company has now developed 26 robotic devices at the end of an arm on top of a 3D printing system that can print concrete for exterior, interior and roof structures.
The funding round was led by the Prime Movers Lab, which specializes in scientific innovation. In particular, investors are excited about start-ups that are rediscovering energy, transport, infrastructure, manufacturing, human development, and agritech. Seed investors Alpaca VC, Dolby Family Ventures, Timber Grove Ventures and Gingels invested more of their funds and Signia Venture Partners joined them. Perhaps most promising for the company’s founders was that 20% of the round was made up of home builders and developers; When potential clients invest in startups, it’s always a good sign.
Since the last fundraising round, Diamond Age has greatly improved its technology, allowing the printing and construction of a 2,000-square-foot one-story home. Undoubtedly, the company impressed investors and added fuel to the valuation fire by releasing the first scaled-down version of its system, as well as a complete 3-bedroom, 2-bath home in 11 months – 4 months ahead of schedule. This was the company’s first contract with a national developer, whose founders have remained silent for some time but expect the announcement to be made soon.
“Affordable housing affects people all over the world. As the average age of first-time homebuyers has shifted from twenty-five to thirty-five, the demand for rental property has increased—mostly for “quality housing” across the tenant hierarchy. compulsion. “By helping the next generation of homebuyers move into their first home faster, we are helping the entire housing ecosystem,” said Jack Oslan, co-founder and CEO of Diamond Age.
Diamond Edge will use this funding to promote its robotics platform and fulfill its first commercial home building contract. The company has already doubled in size and plans to bring in more engineers and manufacturing people. This will help Diamond Edge partner with developers and builders to make home building a sought-after product and give buyers more options when designing their home.
“Diamond Edge factory system in the field provides job site automation to address massive labor shortages in the housing industry,” said Suzanne Fletcher, general partner at Prime Movers Lab. “Jack and his team have achieved important milestones ahead of schedule and are changing the way production houses are built, so it was an easy decision for Prime Movers Lab to lead the company’s Series A.”