3D Printer OEM Axtra3D Raises Nearly $10M in Series A

Axtra3D, an original equipment manufacturer (OEM) of 3D printers leveraging the company’s patented Hybrid Photosynthesis (HPS) technology, has received another $4.5 million in Series A financing, bringing its total Series A funding to $9.75 million. German venture capital fund HZG Group, the lead investor from Axtra3D’s first phase of Series A funding, also led this phase.

HPS is a form of vat polymerization additive manufacturing (AM) that combines the detail of stereolithography with the speed of digital light processing. The technology powers Axtra3D’s flagship Lumia X1 3D printer, which the company originally debuted at Formnext 2022. The Charlotte-based company, which also has a corporate presence in Italy, has made important inroads into the service bureau market, with companies like Protolabs and Dinsmore counted among Lumia X1 users.

Dinsmore recently released a case study about how the company upgraded its ability to 3D print stents, from prototypes to functional devices, thanks to the Lumia X1. Axtra3D plans to use its Series A funds to continue expanding its global footprint, adding to its product portfolio, and bolstering its customer service capabilities.

 

Attendees of Formnext 2024 in Frankfurt, Germany (November 19-22) can learn more about the Lumia X1 and Axtra3D at Booth C39, Hall 11.1.

In a press release about Axtra3D’s $9.75 million Series A round, Frank Carsten Herzog, CEO of lead investor HZG Group, said, “Axtra3D has been one of our most successful investments in [AM]. At a time when the AM industry is undergoing significant shifts, Axtra3D has excelled in expanding its installation base and application suite. Its solutions are strategically designed to address current demands, and the leadership team — comprised of seasoned AM executives — has shown exceptional agility in navigating the company through these difficult times. We are especially impressed by Axtra3D’s consistent innovation and responsiveness to market needs. With this new capital, we believe the company is well positioned to expand beyond NA and EU and accelerate technological advancements to emerge as not just a competitive player but also as a potential leader in AM.”

Considering that Herzog is one of the co-founders of Concept Laser, his deeming of Axtra3D as one of HZG Group’s most successful AM investments is certainly high praise. In addition to the company’s growing success with service bureaus, I think Axtra3D seems to have very savvy plans for its new funding.

The company’s CEO, Gianni Zitelli, notes that a “significant portion” of the Series A money will be designated for Axtra Academy, the company’s customer support division. Assuming that this is like what EOS does with Additive Minds, Axtra3D could easily leverage its latest financing to gain even more traction with new users.

Obviously, the key to that will be the company’s ability to continue to unlock more applications that can capitalize on the Lumia X1’s unique strengths. Axtra3D’s leadership personnel and its open materials platform suggest that the company is in an enviable position to succeed at that task.

Images courtesy of Axtra3D