Canadian 3D printing hardware manufacturer Mosaic Manufacturing has raised $28 million CAD in a financing round led by Idealist Capital, with follow-on participation from Freycinet Ventures.
The funding will be used to expand the global adoption and operational growth of its automated FDM 3D printers on the factory floor.
The company says that its additive manufacturing portfolio, which includes the Array 3D printer ecosystem, addresses the demand for cheaper and more sustainable production platforms.
According to Mosaic, this funding marks a significant milestone in its mission to accelerate supply chain resilience amid “unprecedented economic and geopolitical challenges.”
“We’re proud to partner with our customers in building more resilient, sustainable supply chains powered by Mosaic’s Array,” commented Mosaic Manufacturing CEO Mitch Debora. “This funding enables us to expand our impact as we deepen our presence in factories across the globe.”
The company, which serves customers in logistics, consumer apparel, defense, education, and contract manufacturing, will announce more “exciting partnerships” in the coming months.
Take 15 seconds to tell us the impact of this news using the survey below. Make sure you click submit!
Mosaic to expand 3D printer adoption with new funding
Founded in 2014, Mosaic offers a comprehensive additive manufacturing ecosystem based on its multi-material FDM 3D printing technology. This includes the Array 3D printing platform, which features four of its Element HT 3D printers.
These systems work simultaneously for round-the-clock production. Notably, each Mosaic 3D printer is equipped with a Palette X material handling system, which can switch between filaments mid-print. Therefore, the Element HT 3D printers can incorporate up to eight different filaments in a single part, including engineering materials such as PEEK and Ultem.
Automatic part removal is also incorporated into the Array ecosystem. This replaces print beds after every build is complete, ensuring all four 3D printers are almost always active with less than 10% downtime. Mosaic has shipped over 15,000 hardware products into the market, targeting high-volume 3D printing.
One firm which has adopted Mosaic 3D printers is the electronics component manufacturer Microart Services Inc. Senior Program Manager James McColl stated that the ability of Mosaic’s technology to produce plastic parts at scale on the factory floor “is great for our business and new client acquisition.”
Mosaic will leverage its new $28 million CAD funding to further expand the adoption of its 3D printer offerings and develop partnerships with customers wanting to build “future-ready sustainable supply chains.”
Previously, the company received funding from investors such as Techstars, Real Ventures, and SOAN. Support has also come from several organizations including DDQIC, NGen, IRAP, MaRS, OCE, Venture Lab, CTA, and Canada Makes.
Looking ahead, Mosaic will continue to develop and deploy its Array systems in factories worldwide to facilitate the production of parts closer to the point of need.
Nominations are now open for the 2024 3D Printing Industry Awards.
What does the future of 3D printing hold?
What near-term 3D printing trends have been highlighted by industry experts?
Subscribe to the 3D Printing Industry newsletter to keep up with the latest 3D printing news.
You can also follow us on Twitter, like our Facebook page, and subscribe to the 3D Printing Industry Youtube channel to access more exclusive content.
Featured image shows the Mosaic Manufacturing logo. Photo via Mosaic Manufacturing.
