Exclusive: Azure Printed Homes raising $5M Series A
Azure Printed Homes is raising a $5 million Series A to build homes, backyard offices, exercise studios, and other structures out of recycled plastic, the startup tells Axios exclusively.
Why it matters: The startup says its use of recycled plastic cuts construction costs, waste and timelines.
How it works: Azure prints 3D structures out of recycled polymers blended with fiberglass and other materials.
- It finishes each structure at its factory and headquarters in Gardena, California, then sends the unit by truck or ship to the construction site.
- A single unit uses the equivalent of 100,000 to 150,000 plastic bottles.
By the numbers: Azure generated about $4 million in revenue last year, co-founder Gene Eidelman tells Axios.
Of note: Azure previously closed a $5 million seed round in November, which funded the company's expansion to its current factory in Gardena.
"We always planned to raise in '24. It's just that our seed round took much longer than we were hoping for," Eidelman says. "It's been a tough environment for raising capital."
What's next: Azure is considering pop-up factories that could print structures closer to their destination sites.
- It anticipates breaking even this year with $15 million-plus in projected revenue.