Metafold raises $1.78M in seed funding to bolster its SaaS platform for Additive Manufacturing
July 20, 2023
Metafold, Toronto, Canada, has announced that it has raised $1.78 million in seed funding, as it looks to advance the mass adoption of industrial Additive Manufacturing through its software platform. Differential Ventures led the oversubscribed investment round, with participation from Active Impact Investments, who led the company’s pre-seed round; climate-tech focused Jetstream; and Standup Ventures.
Metafold has developed a fast and precise geometry computation engine for outputting accurate designs for additively manufacturing complex parts. Metafold’s cloud-based software as a service (SaaS) platform is reportedly accessible on any device and aims to provide a fast and easy way for design and engineering teams to produce optimised parts with the Metafold Engine API in order to build their own custom tools and integrations. Through this advanced geometry support, Metafold hopes to enable manufacturers to use less raw material and produce lighter, more efficient parts which use less energy-both of which help customers achieve their sustainability goals.
“Sustainability in manufacturing is ultimately driven by two factors-improving the material consumption of existing fabrication methods and designing for optimality over the lifetime use of manufactured goods,” shared mathematician Dr Elissa Ross, co-founder and CEO of Metafold. “3D printing achieves those goals and has the potential to be even more impactful with the right digital infrastructure. We’re excited to be backed by investors who recognise both the commercial and climate benefits of scaling this extraordinary manufacturing methodology.”
The funding comes as Metafold has reportedly gained traction within a number of key markets such as biotech and sportswear, supporting its customers’ need to design, test, and produce highly optimised structures. Metafold exists to help the world’s highly optimised structures. Metafold exists to help the world’s most innovative manufacturing brands leverage Additive Manufacturing to accelerate their speed of design and production of end-use parts.
“Metafold’s technology will be game changing for designing and visualising complex structures in 3D printing, making currently impossible designs possible,” added David Magerman, founding partner at Differential Ventures. “Co-founders Elissa, Daniel, and Tom are a great team to bring this product to market.”
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