What pandemic? Even though the last year has been hard on every industry, including additive manufacturing, ultrafast production polymer 3D printer manufacturer Nexa3D hasn’t let that slow it down. The company has introduced new 3D printers, materials, software, accessories, and post-processing solutions, in addition to growing its reseller network and acquiring NXT Factory. Now, NEXA3D announced that it has raised over $55 million in funding, which will serve to speed up its commercial activities and technology development, as well as cement its momentum as a polymer AM leader.
“Industrial manufacturing technologies need refreshing; supply chains are extremely complex and fragile. What Nexa3D is building is fundamentally transforming and digitizing manufacturing,” explained Nexa3D’s Co-Founder and CEO Avi Reichental in a press release. “At its core, Nexa3D’s AM platform opens the door to the next generation of performance polymers that cover the entire design-to-manufacturing cycle. This interplay of hardware, software and chemistry unlocks new properties for printed parts and enables process stability, production scaling, consistent product quality, higher yields, and unmatched mechanical performance.”
Needham & Company, LLC served as Nexa3D’s financial advisor, and Orrick Herrington & Sutcliffe LLP was the company’s legal advisor, in connection with this now-closed financing round. In addition to some new investors, the funding led by a multi-billion-dollar alternative asset manager and existing investors OurCrowd and Saudi Aramco Energy Ventures.
“We are delighted to increase our investment in Nexa3D, the leader in ultrafast polymer 3D printers,” stated OurCrowd CEO Jon Medved. “Since backing the company in its earliest days, we believed in the vision and future development of this remarkable new market for additive manufacturing. Today the market has really arrived and is now growing dramatically. This significant new investment will allow Avi Reichental and the brilliant Nexa3D team to extend their market leadership, as they deliver a host of new products and breakthrough technologies to an ever-larger group of satisfied global customers and partners.”
Throughout the COVID-19 pandemic, Nexa3D worked hard to make some major technical breakthroughs and scale up its infrastructure. The company set up an open materials model and collaborated with some of the industry’s major material suppliers, such as Keystone, Henkel, and Covestro, in addition to expanding its own portfolio to a total of 16 materials and adding a range of supply chain-approved powder fusion plastics. Nexa3D also commercialized its NexaX 2.0 3D software platform this year, which is said to help extend “the productivity advantage of its ultrafast 3D printers.”
The funding the company received will be used to help shore up its operations in order to scale its global commercial activities, grow its customer success and acquisition operations, fulfill increasing customer demands, continue expanding its reseller channels, and speed up the introduction of some new products to market.
“This financing puts us in a strong leadership position to accelerate the transition of additively manufactured polymers from prototyping to production at scale. We are grateful for the enormous validation we are receiving from our customers and investors during a very challenging operating period and are deeply appreciative of our incredible team who continue to work passionately on advancing our customers’ productivity, supply chain resiliency and sustainability,” Reichental said. “Despite the unprecedented and challenging operating environment, we achieved strong growth, introduced two ultrafast photoplastic 3D printers, brought a new generation of functional materials to market, added Quantum Laser Sintering capabilities to our portfolio and attracted a top-tier leadership team. We are now prepared to accelerate the development of our full line of polymer AM printers and expand our reach globally.”
Nexa3D will also use the funding to help expand its leading polymer technology overall by, according to the company, “fast-tracking the development and commercialization of several new groundbreaking polymer 3D printers,” speeding up development and release of its proprietary software platform, and finally introducing a new range of performance polymer materials.
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