Markforged, the Boston-based industrial 3D printing company, took another step to accelerate the “next industrial revolution” after closing an $82 million Series D funding round.
The company, which launched its first metal 3D printing machine the Markforged Metal X this month, intends to use the money for expanding globally and mass producing materials and 3D printers.
Existing strategic and financial partners, Matrix partners, M12, Microsoft’s Venture Fund, Next47, and Porsche SE, participated in the Series D funding round. However, it was led by Summit Partners.
“Markforged set out to change the pace of human innovation by enabling engineers, inventors and manufacturers to print industrial-grade parts at a fraction of the time and cost of traditional methods,” said CEO and co-founder Greg Mark. “We’re very excited to have Summit join us as we help accelerate the next industrial revolution with broadly accessible and reliable 3D printing.”
Best is Yet to Come for Markforged Customers
Markforged was founded in 2013 and its first marquee product, the Markforged Mark One, was launched a year later. Over five years later, the company has sold machines to customers in more than 50 countries.
“We have been actively monitoring the additive manufacturing market for the last decade and are excited to partner with the Markforged team,” said Michael Medici, the managing director of Summit Partners.
To achieve its goal of accelerating an industrial revolution, Markforged has set up an Additive Manufacturing University to help businesses accelerate and facilitate the adoption of 3D printing.
Medici adds: “Markforged has been quietly executing at an incredible pace for the last five years, delivering exceptional products that solve real-world industrial manufacturing needs. Greg and his team are focused on continued product innovation, and we believe the best is yet to come for Markforged and its customers.”
Source: tct Magazine
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