UK-based medical technology firm Axial3D has closed a $3 million funding round to extend its 3D printing software and services in healthcare across the U.S. The company will focus on expanding its machine learning team to develop automated algorithms that make access to medical 3D printing easier for hospitals.
The round was led by London-based Imprimatur Capital Fund Management, and included a U.S. investment consortium of surgical angel investors, Tallahassee Memorial Healthcare (TMH), as well as previous investors Techstart Ventures, Clarendon Fund Managers and Innovation Ulster Ltd.
“The closure of this investment round marks an important milestone for our company,” said Daniel Crawford, CEO at Axial3D.
“It will accelerate our growth within our expanding markets and enable us to bring our 3D printing solution to more healthcare organizations, helping them to drive down costs, improve compliance and ultimately, enhance patient care.”
3D printing and anatomical models
Founded in 2014, Axial3D provides both software and services for the creation of 3D printed anatomical models, which enables a better understanding of surgical techniques for both patients and medical professionals. The Axial3D Assure platform, which manages medical 3D print laboratories, is one of the company’s software solutions integrated by the University Hospital of Basel in Switzerland.
With the recent investment, Axial3D is creating roles within the American medical sector and at its headquarters in Belfast to support the growing demand of its technology-driven labs. Crawford added, “Continuous innovation is crucial to bring the best solutions to market and keep up with customer demand. Following our recent collaborations with TMH and University Hospital Basel, we will focus further on the North American and European markets.”
“This includes opening an office in the USA, and recruiting more talent into our team, particularly to grow our machine learning capability. This will enable us to continue to innovate and find new ways to bring 3D printing on-demand to the entire healthcare sector.”
Accessing additive manufacturing for healthcare
Since 2018, Dr. Christopher Rumana, Neurosurgeon & Charmain of the Board at TMH, has been a user of Axial3D’s medical 3D printing service for one-off custom models. “Axial3D has built a scalable, accessible platform for clinicians to access 3D printing without the capital expenditure or manpower traditionally required,” added Dr. Rumana.
“Having been in the medical field for over two decades, I have seen how technology improves patient care. With TMH being a user of Axial3D’s service, our own patients have been positively impacted by the use of 3D printing. I want to see this service adopted in more healthcare institutions across the USA so that everyone who needs it can benefit from the technology.”
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Featured image shows a 3D printed skull model. Photo via Axial3D.