BCN3D Technologies, the Barcelona-based open-source 3D printer manufacturer and developer of Independent Dual Extruder (IDEX) technology, has announced $3 million in seed funding to develop its products.
As a result of this funding, BCN3D has become independent from the Polytechnic University of Catalonia’s (UPC) additive manufacturing division, the CIM-UPC center, from which the company was founded in 2012.
The $3 million was raised by venture capital firms Accurafy4, JME VC, and VICTORIA. Xavier Martínez Faneca, CEO of BCN3D, said, “We are working on a new range of products to improve the experience of our clients and take the IDEX to a completely new level.”
“With this funding, we will be able to ramp-up our production to meet the market demand and cut down the long delivery periods we have experienced in the past due to production limitations.”
A top ten European 3D printer manufacturer
BCN3D stemmed from a research group at CIM-UPC developing affordable, easy-to-use, and versatile 3D printers in order to “change the traditional manufacturing status quo”. The company’s product range recently welcomed its new generation of FFF dual extruder 3D printers: the Sigma R19 and the Sigmax R19.
These desktop systems are integrated with IDEX technology which allows users the freedom of two new print modes: Duplication Mode and Mirror Mode. Such features are said to double productivity when compared to conventional 3D printers.
As of this year, BCN3D, through its global network of 60 distribution partners, achieved the 5,000 3D printers sold milestone. BMW, Samsung, Louis Vuitton, Nissan, NASA, and HTC are some of the customers using the company’s 3D printing technologies.
This seed round reportedly places BCN3D into one of the top 10 desktop 3D printing manufacturers in Europe by funding. Francesc Torres, Rector UPC, stated, “Technology transfer is, along with research and training, our greatest commitment related to the challenges of Industry 4.0 and additive manufacturing.”
“The project of BCN3D has been developed within our technological center CIM-UPC and it’s an example of how knowledge can generate value and have a social impact. We are very proud of this new step for BCN3D and we will support their growth from the university.”
François Minec, Lead Investor at Accurafy4, also stated, “Since BCN3D introduced the IDEX technology I knew they would become one of the big players in the additive manufacturing industry.”
“We have high expectations on the company’s commercial growth and their ability to create market dominance through new technology development. At Accurafy4 we are now delighted to join the company and we will make our best efforts to maximize BCN3D’s global impact and develop strategic partnerships.”
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Featured image shows the BCN3D Sigma (Left) and the new BCN3D Sigmax (right). Photo via BCN3D.