Link3D closes $7 million funding round to support global expansion
October 30, 2019
Software company Link3D, Boulder, Colorado, USA, has announced the closing of a $7 million round of venture capital funding, led by AI-focused venture capital firm AI Capital, to drive growth in North America, Europe and Japan. Alongside its global expansion efforts, Link3D will reportedly integrate its flagship software products with IoT, artificial intelligence and workflow automation technology to maximise production with capacity management, dynamic scheduling and predictive QMS solutions.
According to Frost & Sullivan, the Additive Manufacturing markets in North America, Europe and Japan are expected to grow from $2.4 billion to $7.7 billion, $1.8 billion to $7.2 billion, and $1 billion to $5.6 billion, respectively, over the next five years. Link3D believes its Additive MES workflow software can help to drive overall adoption of AM, from prototyping to series production, in industries such as aerospace and defence, automotive, consumer, medical and oil & gas.
“With this funding round, Link3D will continue to scale and grow operations in North America, Europe, and Japan by expanding our sales and customer support,” stated Shane Fox, Co-Founder and CEO of Link3D. “The funding will also aid in our R&D efforts to introduce workflow automation and artificial intelligence within the Additive Manufacturing production environment. These developments will help organisations around the world unlock the true benefits of industrial manufacturing.”
Neville Teagarden, Managing Partner of AI Capital, commented, “Link3D is a key player in providing MES and workflow solutions to leading businesses worldwide, making it a valuable addition to our growth-stage enterprise applied AI investment portfolio. This successful round of funding is a testament to the strong impact Link3D has made thus far, and the confidence it has inspired throughout the industry.”