Mighty Buildings is a company working in the construction industry with 3D printing technology and advanced composite materials that is headquartered in Redwood City, California and was founded in 2017 by Salva Solonitsyn. Their stated goal is to help younger generations attain homeownership.
Mighty Buildings has developed a 3D printing material and system that allows the printing of energy efficient structures with zero construction waste. They claim that this can be done at a lower cost than traditional construction technologies.
One of the advantages of Mighty Buildings technology is that it enables freeform architecture. Mighty Buildings states that their materials feature better compressive and tensile strength than commercial grade concrete, while 3D printing technology uses light to get the composite material solidified from the printing head. Mighty Building is able to print horizontal lines without support.
Low automation, decreasing productivity, lack of qualified labor, rising timber costs drive construction costs up. The median square footage of houses built has also been growing for many years since builders are not incentivized to build smaller / starter homes. These factors make starter houses overpriced and hardly available to the first time home buyer.
The Millennial generation is getting to the age when they start families and are considering to buy their own house. According to Fannie Mae, 93% of the Millennials who currently rent want to buy a house but believe it is economically impossible. Overburdened with student loans and limited by supply of starter homes, the Millennials are either forced to buy larger houses taking mortgage they can’t afford or to keep on renting forever.
Mighty Buildings delivers Housing Construction Platform automating 80% of construction operations and saving up to 90% of building time. They specifically focused on solving problems of effective production of the category of starter homes, starting from the segment of backyard studios that can be built on the existing lots for the Millennials who live with their parents (over 30% in California).
Mighty Buildings gives consideration to environment sustainability when providing housing solutions. Being concerned with surrounding natural ecosystems they have eliminated waste from our construction processes by utilizing additive manufacturing and recycling of materials. Their solutions are also designed to meet progressive energy standards.
Mighty Buildings has taken into consideration longevity of delivered products and their security for the customers. Proprietary materials are more resilient to fire, wind, moisture, earthquake events, and other environmental factors.
The founding team
The team is composed by two founders, based in San Francisco. Slava Solonitsyn (CEO) is a serial startup launcher and co-founder of Singaporean seed capital firm. Dmitry Starodubtsev (CTO) is a serial entrepreneur and founder of 100+ employee engineering firm.
Initial traction & funding
Mighty Buildings raises a $26,000,000 series A round from SQN Venture Partners, Khosla Ventures, Bold Capital Partners, Foundamental and Peak State Ventures.
Mighty Buildings was founded.