Exone end to end binder jetting service

Markforged Announces $30 Million in New Investment Funding

INTAMSYS industrial 3d printing

Share this Article

A lot of progress has been happening lately for Markforged, which just a few months ago introduced the latest 3D printers in its industrial 3D printer line. The company has been growing and continues to grow, with expectations that it will surpass 100 employees by the end of the year. Since the beginning of 2017, Markforged has seen more than 300% revenue growth, its best year yet as gains led to profitability in Q2. Now the company is achieving even more progress with the completion of a $30 million Series C round of funding.

The round was led by next47, a venture firm backed by Siemens, with investments also coming from Microsoft Ventures and Porsche SE, joining existing investors Matrix, Northbridge and Trinity. The new investors are also customers of Markforged, using its printers to reduce time-to-market. To date, Markforged has raised a total of $57 million.

The Metal X 3D printer [Image: Markforged]

Enhancing workflow taking an idea from prototype to production in a faster timeframe is a hallmark of additive manufacturing, and the company’s expanding lineup of available 3D printers is designed to address the expedition of creation, working with plastic, carbon fiber and metal materials.

“At Markforged we are unlocking a dramatic acceleration to change that process from years to days. With the new funding and strategic support from leading global manufacturing brands, we are poised to change the pace of human innovation,” said Founder and CEO Greg Mark.

CEO Greg Mark surrounded by Markforged 3D printers at the company HQ [Image: Sarah Goehrke]

Markforged started off this year with the announcement of its first metal 3D printer, the Metal X. The printer introduced an entirely new kind of metal 3D printing technology called Atomic Diffusion Additive Manufacturing, or ADAM, which involves 3D printing layers of metal powder contained in a plastic binder. The binder is removed after printing and then the entire part is sintered at once. The technology is capable of creating metal parts 50 times faster than machining, for 20 times cheaper. Parts produced using ADAM are super-strong and can be printed into complex geometries.

“Markforged is making 3D printing simple, repeatable, and fast. This has far reaching implications for our target industries, from automotive and aerospace to healthcare and energy,” said Lak Ananth, Managing Partner at Siemens next47, who will also be joining the Markforged Board. ” We see customers embedding Markforged into their product development and production processes, tremendously improving speed to market and addressing new opportunities in their industries.”

Markforged, of course, is known for creating the first 3D printer to be able to print with carbon fiber. Strength and speed have always been focal points for the company, as has innovation.

“As cloud services shorten development cycles for software engineers, so too is 3D printing accelerating innovation in the physical world. Markforged’s full-stack offering and innovative materials change the equation for 3D printing, opening up incredible new opportunities for mechanical engineers,” said Matthew Goldstein, Partner, Microsoft Ventures.

The Markforged team with a Mark X 3D printer at the company HQ in Boston [Image: Markforged]

Markforged has certainly had an eventful and productive year, and has gained a lot of respect and interest from the rest of the 3D printing industry – as well as from investors.

“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. 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,” said Philipp von Hagen, member of the executive board of Porsche Automobil Holding SE responsible for investment management.

Discuss this and other 3D printing topics at 3DPrintBoard.com or share your thoughts below.

 

Share this Article


Recent News

3D Printing News Briefs, September 21, 2021: 3D Printed COVID Test, Meatless Burgers, & More

Can Fluicell’s Bioprinted Tissue Help Treat Type 1 Diabetes?



Categories

3D Design

3D Printed Art

3D Printed Food

3D Printed Guns


You May Also Like

3D Printing Webinar and Event Roundup: September 12, 2021

Buckle your seatbelts, it’s going to be a busy week of webinars and events, both virtual and in-person! RAPID + TCT and FABTECH will both be held in-person this week...

Featured

Sixth Bioprinting Acquisition in One Year from Cellink Parent Company BICO

Pioneering bioprinting firm Cellink, now part of a larger company rebranded as BICO (short for bioconvergence), has already been making quite a name for itself and is preparing to capture...

Featured

Complete Tumor 3D Printed to Facilitate Faster Treatment Prediction

There are more than 120 different types of brain tumors, many of which are cancerous, but the deadliest, and sadly most common, is the aggressive, fast-growing glioblastoma multiforme (GBM), a...

3D Printing Webinar and Event Roundup: August 15th, 2021

From convincing your professor they need a 3D printer and the future of static mixers to biomaterials and bioprinting, we’ve got another week of webinars and events to tell you...


Shop

View our broad assortment of in house and third party products.