3YOURMIND raises $5.5 million in Series A+ funding round
September 7, 2020
Additive Manufacturing software provider 3YOURMIND, Berlin, Germany, has raised $5.5 million in a Series A+ funding round led by EnBW New Ventures GmbH (ENV), the venture unit of EnBW, a major renewable energies company and operator of extensive infrastructure in Germany and throughout Europe.
The funding round also included 3YOURMIND’s existing investors UVC Partners, AM Ventures, Trumpf Venture and coparion. The funds raised are expected to support 3YOURMIND’s further growth in sectors such as aerospace, automotive and engineering, and also strengthens its position in the energy and infrastructure maintenance industries. The company states that it has secured contracts with over fifty enterprise customers in various industries, helping them to produce thousands of AM parts per day.
EnBW explains that, similarly, to other energy providers, it operates power plants of different types and age, as well as an extensive delivery infrastructure. To supply its six million customers and remain operational it must find efficient ways to maintain outdated equipment; Additive Manufacturing has reportedly proven to be a viable solution.
3YOURMIND’s proprietary Additive Manufacturing workflow software is designed to help users optimise their value chain and achieve up to 40% cost reduction, as well as 18% shorter lead times. Agile manufacturing, which is defined by flexible, automated and distributive production, is possible with 3YOURMIND and will equip enterprises with the ability to redefine the next generation of manufacturing.
Primarily used as a streamlined communication tool for many different industries, this workflow software has reportedly also become an integral solution for those who are producing spare parts on-demand, replacing outdated machinery and transitioning to a digital warehouse.
Although most of its customers are already heavy users of Additive Manufacturing, 3YOURMIND’s software is also said to provide an ideal entry point for those that want to identify AM use cases and understand the impact that agile manufacturing can provide to their business.
“The current macro situation forces companies to focus on supply chain resilience,” stated Aleksander Ciszek, co-founder and CEO of 3YOURMIND. “Our customers benefit from the distributed manufacturing software we are providing as the increased flexibility in their supply networks secures and generates value. We are happy that ENV and our existing investors support that vision.”
“The promise of Industry 4.0 relies on Additive Manufacturing,” commented Crispin Leick, Managing Director at ENV. “The 3YOURMIND offering enables companies to easily implement AM into their production process which supports the sustainability of many manufacturing and MRO (Maintenance, Repair, & Operations) applications. We are excited to invest in 3YOURMIND, a company that is shaping the future of manufacturing.”
Stephan Kühr, 3YOURMIND CEO, reported, “Even during these unprecedented times, we expect to double our annual sales for the third straight year.”
Kühr added, “This investment by ENV and our existing investors UVC Partners, AM Ventures, TRUMPF Venture and coparion will enable us to strengthen our expansion efforts in Europe and North America.”
