WEG will invest $1 million, and acquire a minority stake, to support the further expansion of ZMorph and help fund a plan to ramp up production to more than 1000 units annually.
The funds will also be used to develop ZMorph 3.0, a new version of the multi-functional and multi-material, all-in-one 3D printer.
“We finished negotiating and signed an investment agreement last week,” says Piotr Wasowski, the co-founder of ZMorph. “The funds raised will let us significantly step up production capacity, which will translate into faster expansion in international markets.”
The agreement will take the form of a new share issue and convertible note, and in exchange for their capital contribution and a loan, Warsaw Equity Group will acquire a minority stake in the company.
ZMorph launched a showroom in Haarlem, Holland in 2014 and now operates a representative office in California as well.
“The cash injection will help us to faster mark our presence in key markets because we will be able to significantly increase the production,” said Wasowski of this latest deal. “At this time, the volume of orders considerably exceeds our production capacity, but we are expecting to produce and sell a total of 1000 ZMorph personal fabricators by the end of 2015.”
ZMorph’s printers will be offered on Amazon.com, and six new distributors in the US and in Europe are expected to join their sales network by the end of June.
Wasowski says his company’s European distribution is also poised for an expansion, and during the autumn of this year, ZMorph will begin expanding into Asian markets. The total number of ZMorph’s active resellers has now climbed to 22 worldwide.
The company says a share of the funds from the WEG deal will be used for research and development activities.
“We plan to develop a new printer version, ZMorph 3.0, by the end of this year. The new ZMorph will be even more versatile, multi-functional and multi-material. ZMorph remains the only printer that has the capability to change printing toolheads, so a single 3D personal fabricator can do the job of 11 different machines,” Wasowski says. “We also plan to further develop our software – Voxelizer 3D.”
He adds that the multi-toolhead functionality of the company’s printers means users can not only print with several types of plastic filament, but they can also print in chocolate, cake, rubber and nylon.
The ZMorph’s Personal Fabricator also functions as a CNC milling, laser cutting and engraving machine and as a 3D scanner.
What do you think about this latest investment in the multi-function 3D manufacturing device company ZMorph? Let us know in the ZMorph Expansion forum thread on 3DPB.com.