Polymaker, a 3D printing filament manufacturer, has announced the close of a new round of equity funding totalling $5 million USD, led by a leading venture capital firm in China.
Polymaker will use the funds to expand manufacturing capacity at their headquarters in Shanghai and develop new materials. Dr. Xiaofan Luo, the President of Polymaker, said
Our customer base ranges from hobbyists to the most advanced industrial customers in the world and the funding allows us to exceed expectations to our global customers’ business needs.
During 2016, Polymaker’s Kickstarter campaign introduced their first hardware product, the Polysher. To accompany the Polysher, Polymaker developed a brand-new 3D printing material they call PolySmooth. PolySmooth is a PVB based material with reportedly “excellent solubility in alcohol.” Post processing is conducted within a desktop unit using an aerosol delivery system.
Expansion into U.S. market
Polymaker have also taken on a new VP of business development for the Americas. The appointment of Jeffrey L Walters, who has 6 years experience in the 3D printing industry and global filament market strengthens the company’s presence in this market. Polymaker say the appointment of Walters is, “very exciting for global efforts and allows the company to better serve customers across the Americas for their growing material needs”.
A statement from Walters, Vice President of Business Development, announced,
Polymaker is known throughout the entire industry as a leader in quality, service, and performance of their 3D Printing Filaments. We expect to grow significantly by delivering more than what is expected as a proper business partner, industry consultants, and deliver the highest standards of quality in the manufacturing process. We believe our filament portfolio and its overall performance will challenge the market standards and will be refreshing for its global users.
Polymaker have now started shipping Polysher units to their backers and 3D Printing Industry understand the new product will be available for purchase in May 2017. Furthermore, Polymaker will be exhibiting at the TCT Asia show in the coming weeks with a demonstration of the Polysher.