Fortify raises a $20M Series B for its composite manufacturing 3D printer – TechCrunch


There’s been fairly a little bit of motion within the additive manufacturing area in latest months. If I needed to pinpoint a purpose, I’d say that — very like robotics (one other area I observe pretty carefully) — the class has gotten a enhance in curiosity from the pandemic. Medical functions are understandably of curiosity recently, as is different manufacturing.

Desktop Metal, Markforged and new-comer Mantel have all made fairly huge bulletins in latest weeks, and now Fortify is making the spherical with a vital elevate. The Boston-based startup introduced a $20 million Series B equity round, led by Cota Capital with further participation from Accel Partners, Neotribe Ventures and Prelude Ventures.

Fortify is trying to stake out a declare in materials deposits. Using digital mild processing (DLP) tech, the corporate can combine and print in a number of completely different supplies, with a wide selection of properties. The checklist consists of some helpful traits, together with electromagnetic and thermal.

Like Mantel, the corporate seems to be focusing on manufacturing instruments, together with injection molding.

“Fortify has been focused on proving the viability of our product and market opportunity over the past 18+ months, and exceeded our goals set at the beginning of 2020,” CEO Josh Martin mentioned in a launch. “This next round will expand our go-to-market footprint in key verticals such as injection mold tooling while enabling us to capture market share in end-use electronic devices.”

Recent months have additionally discovered the corporate enlisting different 3D printing vets. Paul Dresens (ex Desktop Metal) signed on as VP of Engineering, whereas former GrabCad (a Stratasys acquisition) market exec Rob Stevens has signed on as an advisor.


Source link