Nano Dimension, the Israeli 3D printed electronics company, made a public offering of American Depositary Shares and submitted an SEC Filing explaining that it hopes to raise funding of $28.8 million to advance technologies and expedite the company's growth.
The developer of the Dragonfly Pro 3D printer founded in 2014 submitted to the U.S. Securities and Exchange Commission. The $28.75 million will be used to expedite the growth of the company and to advance its breakthrough technologies and commercialization efforts.
The company explains that its primary market is in the US, but it has been slowly expanding across the country and the world with an official subsidiary in Hong Kong.
Nano Dimension also recently announced its financial results for the third quarter of $1,672,000 with a loss of $3,628,000.
“Our continued sequential growth during the third quarter reinforces our confidence in the open-ended market potential of our additive manufacturing solutions… We believe that our advantage as a first mover in additive electronics, combined with our growing reseller channel network, positions us well for increasing sequential revenue in both the immediate and long-term future,” said Amit Dror, Chief Executive Officer of Nano Dimension.
Nano Dimension will be working on five areas to carry out its $28.8 million plan. These include increasing sales and marketing efforts. This means employing more people in both the US and Hong Kong. It will also continue to work on growing sales by expanding on its number of global resellers.
Next, the company plans to work with other industry leaders to form partnerships and alliances. To encourage the public to learn more about Nano Dimension’s capabilities, it will also release “use cases”.
Such use cases for the company’s technology range from defense fields — with the U.S. Armed Forces owning four Dragonfly Pro printers — to medicine.
Lastly, the company intends on developing a business model in the style of “Razor and Blades”. It expands by saying: “We plan to exploit our inks as supplemental products to our DragonFly Pro system. We also plan to increase the software options and enable levels of licensing that we could monetize from.”
Source: 3D Printing Industry
License: The text of "Nano Dimension Hopes to Raise $28.8 million on NASDAQ" by All3DP is licensed under a Creative Commons Attribution 4.0 International License.
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