PostProcess Technologies Closes $4 Million Seed Round as Investors Look to Scalable Industrial 3D Printing
It shouldn’t take much convincing for anyone to see how valuable PostProcess’ technology is. Considering the headache involved in removing support materials from 3D printed objects and then smoothing them and making them ready, it’s no surprise that PostProcess Technologies, headquartered in Buffalo, has clients from a wide range of industries today.
It’s also not surprising to see why others would be investing, with PostProcess just finishing a $4 million seed round, to include $1 million from New York Ventures, known as the venture capital investment arm of Empire State Development. Other investors included Rand Capital, Richmond Capital Partners, and well-known angel investors.
“We continue to hear from our customers that the post-processing of parts is becoming the bottleneck in their additive operation as prototype volumes grow into the thousands per year and production volumes grow into the thousands per day. Our technology delivers unparalleled consistency, while showing a return on investment that is often less than six months,” said Jeff Mize, PostProcess Technologies’ CEO.
While 3D printing is known for benefits such as lower costs, greater production, and better workflow, with PostProcess’ solutions, users can shave off even more time as they wave goodbye to manual print finishing and spend their time engaged in more valuable activity. As 3D printing technologies look to a future of scalable industrial applications, improvements to post-processing techniques have come into the forefront of activity and focus on process improvements.
“Additive manufacturing is now being implemented in every imaginable market across a wide variety of applications. We were intrigued by the complex challenge of solving the finishing requirements across all 3D printer technologies and materials. We are able to deliver unmatched results for our current and future customers through precision energy management, which we achieve through a combination of proprietary software, chemistry and hardware,” said PostProcess Founder and CTO Daniel Hutchinson
Because Hutchinson was a distinguished member of the US Navy, he is able to claim PostProcess as a veteran-owned small business. This is beneficial for both government and military customers. The company is also set to benefit the local economy in New York state.
“New York Ventures’ investments into high-tech companies are a key component of our comprehensive strategy to create jobs and grow the economy in Upstate New York. Western New York is once again being recognized for innovative, emerging manufacturing technologies such as 3-D printing, and we look forward to Post Process’ continued success as the Company seeks to establish itself as a leader in the industrial additive manufacturing industry,” said ESD President, CEO and Commissioner Howard Zemsky.
It should be exciting to see how they put the funds to use overall, with current plans to hire and expand development. Just last year the post-processing equipment manufacturer announced the Hybrid Series, allowing for surface finishing and support material removal all in one system. Last month, the company introduced its second-generation DECI Rectangular, the largest offering in its Surface Finish (SF) series and the only automated SF machine that was designed specifically for additively manufactured parts. Their fully-scalable solutions are meant for industries such as automotive, defense, medical, aerospace, and more. Discuss in the PostProcess Technologies forum at 3DPB.com.
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