MatterFab raises $5.75 million to develop its first commercial metal AM system
MatterFab, based in San Francisco, USA, and currently part of Lemnos Labs hardware startup program, has announced the completion of its Series A Financing. The company raised a total of $5.75 million, including investments from GE Ventures and the Innovate Indiana Fund. MatterFab will use the funding to complete the design and development of the company’s first commercial industrial 3D metal printer.
“Our vision is not just to solve today’s biggest challenges with metal 3D printing, but to revolutionise the capabilities of metal printing,” stated Matt Burris, CEO at MatterFab. “Achieving that vision begins with developing our new metal 3D printer in partnership with some of the most experienced users of metal Additive Manufacturing technology.”
The investment from GE, a leader in industrial manufacturing, is seen as further validation for MatterFab’s printer which the company claims will be the first affordable, scalable 3D metal printer using next generation laser technology to print solid metal parts.
“GE Ventures is reimagining manufacturing and what is possible on the factory floor, and we see great potential in MatterFab’s offerings and industrial applications,” stated Steven Taub, Sr. Director, Investments – Advanced Manufacturing, GE Ventures. “MatterFab’s open platform gives its printing system the flexibility that GE and other industrial leaders need to use additive manufacturing to make a wide variety of functional metal parts for our customers.”
“Industries old and new will be impacted by MatterFab’s technology, as markets realise their new potential with Additive Manufacturing,” stated Ken Green, Managing Director of the Innovate Indiana Fund. “We are pleased to work with the MatterFab team as their unique backgrounds in laser technology and CNC protocols make them leaders in the 3D printing field.”
www.matterfab.com
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