Metal 3D printer manufacturing company, MatterFab has announced the completion of round one of their Series A Financing. The company has raised $5.75 million dollars from investors including leading industrial manufacturer GE Ventures. Innovate Indiana, a fund that provides capital to companies with an Indiana University connection has also invested in MatterFab. The company plans to use the money to complete the development and design of their first commercial industrial 3D printer.
Indiana native Matt Burris, CEO of MatterFab says, ““Our vision is not just to solve today’s biggest challenges with metal 3D printing, but to revolutionize the capabilities of metal printing. Achieving that vision begins with developing our new metal 3D printer in partnership with some of the most experienced users of metal additive manufacturing technology.”
More and more companies are moving to fill the gap in industrial manufacturing for machines that will directly produce parts via additive manufacturing techniques. GE jumping on board is a huge validation for metal 3D printing and now MatterFab will surely help drive a more evolved product if it hopes for any future success.
Steven Taub, Sr. Director of Investments for Advanced Manufacturing at GE Ventures is excited about what the future holds, “GE Ventures is reimagining manufacturing and what is possible on the factory floor, and we see great potential in MatterFab’s offerings and industrial applications. MatterFab’s open platform gives its printing system the flexibility that GE and other industrial leaders need to use additive manufacturing to make a wide variety of functional metal parts for our customers.”
Ken Green, Managingn Director of the Innovate Indiana Fund says, “we are pleased to work with the MatterFab team as their unique backgrounds in laser technology and CNC protocols make them leaders in the 3D printing field.” He continues, “industries old and new will be impacted by MatterFab’s technology, as markets realize their new potential with additive manufacturing.”
MatterFab’s prototype printer is both affordable and scalable. It uses cutting edge laser technology to 3D print solid metal parts. The company is looking forward to addressing any challenges in the additive manufacturing process with their new experienced and production oriented partners.