Zeda closes $52 million Series B financing round
March 8, 2023
Zeda, Inc., Fremont, California, USA, has closed a $52 million Series B financing round, with funding expected to accelerate the company’s geographic footprint and medical product expansion in the US and Asia. Formerly known as PrinterPrezz/Vertex Manufacturing, the company has raised a total of $68 million in funding to date.
Zeda intends to primarily use the proceeds to fund its new advanced manufacturing digital foundry in Cincinnati, Ohio, as well as expand its facilities globally to address the growth in demand for metal Additive Manufacturing in the medical, aerospace, defence, space, and energy applications, as well as expansion into the Asian market for its medical implant applications. This follows the announcement last year of an agreement with the Singapore Healthcare Clusters and the National Additive Manufacturing Innovation Cluster (NAMIC) to grow the AM implant market in the region.
“Zeda is seeing exponential growth in our served markets, driven by our regulated-industry partners and products, due to the global environment and localising of supply chains,” stated Shri Shetty, CEO of Zeda. “We are delighted to have closed a substantial round, particularly with the current economic headwinds. This further validates our vision for the company and the capabilities of our exceptional team to execute against our business plan.”
This Series B round included participation by multiple new institutional and strategic investors, including Michelin, Taiyo Nippon Sanso Corporation (a Mitsubishi Chemical Group company), and Fives Group. It was jointly led by existing investors Boutique Venture Partners, Berkeley Catalyst Fund, DOV Management, and Solvay Ventures.
“As this funding round shows, there is a market even in tough times for industry leaders like Zeda. Few challenges are as complex as revitalizing localized manufacturing and securing critical supply chains,” added David You, founder & CEO, DOV Management. “We’re pleased to invest in Zeda as we believe, leveraging advanced manufacturing and technology, it’s best positioned to deliver reliable, high-quality products across multiple regulated industries and applications.”
Read more about Zeda (formerly PrinterPrezz) in the Summer 2022 issue of Metal AM magazine:
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