Nov 1, 2017
MA-based Markforged, known for 3D printers that produce plastic parts strengthened by carbon fiber and other materials, today announced that it has completed a $30 million Series C round of funding. The funding was led by next47, the Siemens-backed venture firm. Microsoft Ventures, and Porsche Automobil Holding SE (Porsche SE) also make significant investments. The new investors join existing investors Matrix, Northbridge, and Trinity. Markforged has raised a total of $57 million to date, and achieved profitability in Q2 of 2017 having grown revenues by 300%.
Markforged was founded by CEO Greg Mark five years ago and currently employs 120 people. It offers 3D printers that print the complete range of materials, including plastic, carbon fiber, onyx, fiberglass, and various metals. Prices for the 3D printers range from $3,499 to $99,500, depending on the model and materials selected. By inventing new ways to print carbon fiber and metal, Markforged has extended the benefit of 3D printing beyond modeling into manufacturing.
"Markforged is making 3D printing simple, repeatable, and fast," said Lak Ananth, managing partner at Siemens next47, who will also be joining the Markforged board. "This has far reaching implications for our target industries, from automotive and aerospace to healthcare and energy. We see customers embedding Markforged into their product development and production processes, tremendously improving speed to market and addressing new opportunities in their industries."
"As cloud services shorten development cycles for software engineers, so too is 3D printing accelerating innovation in the physical world," said Matthew Goldstein, partner, Microsoft Ventures. "Markforged's full-stack offering and innovative materials are game-changing for 3D printing, opening up incredible new opportunities for mechanical engineers."
Markforged parallelization - Markforged has a vision of factories filled with connected 3D printers.
"Start-ups are an important source of innovations. In order to advance and capitalize on such innovations we have to invest in technologies at an early stage," said Philipp von Hagen, member of the executive board of Porsche Automobil Holding SE, responsible for investment management. "Our investment in Markforged is a perfect example of this approach. Its additive manufacturing technology has the potential to massively change different segments along the automotive value chain."
Posted in 3D Printer
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