Following news earlier this week of a $260 million investment in Carbon, further details have been released on how some of the funds will be used to develop materials.
Carbon, the Silicon Valley-based start-up behind Digital Light Synthesis (DLS), has announced a strategic partnership with French chemical company Arkema, to develop a new era of materials performance as well as an innovative supply chain model.
In doing so, Arkema has invested $20 million to the Carbon Growth Funding Round to evolve digital manufacturing platforms. Thierry Le Hénaff, Chairman and CEO of Arkema, said:
“We are eager to continue and strengthen our joint efforts in delivering Carbon next-generation products and full solutions to our partners & customers, disrupting the way parts are mass manufactured and accelerating new market opportunities.”
Carbon and Arkema
From its inception in 2013, Carbon has worked with Sartomer, a subsidiary of Arkema supplying specialty advanced additive manufacturing materials worldwide. The company has been driving resin manufacturing to enable parts made by DLS technology to be increasingly reliable and cost-competitive.
“Since Carbon’s early days, Arkema has been an important partner to us. It’s rewarding to see all the amazing outcomes of our work together over the years bringing new, innovative materials to market,” explained Dr. Joseph DeSimone, CEO and Co-Founder of Carbon.
With Arkema’s investment, a deeper collaboration has been enacted to advance cutting edge materials and innovative solutions for itself as well as Carbon. According to Sartomer, the companies share a common vision for the industry regarding tailored solutions for customers and material sustainability.
This alliance intends to significantly grow the pipeline of production applications through advanced materials technology in order to drive volume and revenues.
A billion dollar 3D printing start-up
Carbon’s valuation has been placed at approximately $2.4 billion following its latest growth funding round co-led by Madrone Capital Partners and Baillie Gifford. The company’s product development in the fashion and sportswear sector has resulted in it winning the 2019 3D Printing Industry Awards consumer product category for the Carbon & Adidas Futurecraft4D 3D printed sneaker midsoles.
Greg Penner, Founder & General Partner at Madrone Capital Partner and chairman of Walmart, stated, “What impresses me about Carbon is their diversification across markets and industries.”
“Through their partnerships with large-scale manufacturers in automotive, healthcare, and consumer goods, they are proving that, with their Digital Light Synthesis technology, additive manufacturing in larger scale production is becoming a reality across industry sectors.”
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Featured image shows a 3D printed Carbon bracelet. Photo via Carbon.