3D printer manufacturer Nexa3D has raised more than $55 million in financing rounds led by an undisclosed “multi-billion-dollar” alternative asset manager and existing investors OurCrowd and Saudi Aramco Energy Ventures.
Nexa3D will use the funds to fast-track the development and commercialization of several new polymer 3D printers and a new class of performance polymer materials, in addition to accelerating the development of its proprietary software platform.
“This financing puts us in a strong leadership position to accelerate the transition of additively manufactured polymers from prototyping to production at scale,” said Avi Reichental, Co-founder and CEO of Nexa3D.
“We are grateful for the enormous validation we are receiving from our customers and investors during a very challenging operating period and are deeply appreciative of our incredible team who continue to work passionately on advancing our customers’ productivity, supply chain resiliency and sustainability.”
Achieving milestones during Covid-19
Over the past year, Nexa3D has ramped up its product development and commercial activities to achieve several significant milestones in the company’s evolution, the first of which was the launch of its flagship system, the NXE 400.
The NXE 400 is a versatile and ‘ultrafast’ 16L industrial 3D printer equipped with Nexa3D’s proprietary Lubricant Sublayer Photo-curing (LSPc) 3D printing technology. Reportedly delivering a 20x productivity increase over its competitors, the printer has been deployed for the production of custom polymer parts for motorsport applications, as well as for more general manufacturing tooling purposes.
The company also formed a number of materials partnerships during the pandemic period in order to form an open materials model with the likes of Henkel, Keystone Industries, and BASF. Nexa3D has since expanded its materials library to number 16 and added a full range of supply chain-approved powder fusion plastics to its product line, in order to open new use cases and applications for its technology.
In October last year, the firm launched its new xCure post-processing system for photoplastic-based parts. Designed with accessibility and user-friendliness in mind, the system is custom-made for the NXE 400 3D printer and is reportedly capable of post-processing parts on a production scale.
A few months later, Nexa3D commercialized its NexaX 2.0 software platform to provide a comprehensive file-to-part software thread to extend the productivity of its ultrafast 3D printers. Equipped with file slicing capabilities and full manufacturing execution system (MES) workflow functionality, the software covers all aspects of the pre-printing setup stage to optimize polymer part production.
Just last month, the company launched its latest resin-based 3D printer, the NXD 200, which is designed specifically for dental applications. Described as an ‘ultrafast printing engine’, the machine features Nexa3D’s LSPc technology, a large build volume, and a 4K resolution LCD screen to deliver clinic-ready dental parts at a pixel pitch of just 76.5 microns.
“Despite the unprecedented and challenging operating environment, we achieved strong growth, introduced two ultrafast photoplastic 3D printers, brought a new generation of functional materials to market, added Quantum Laser Sintering capabilities to our portfolio, and attracted a top-tier leadership team,” said Reichental.
“We are now prepared to accelerate the development of our full lineup of polymer AM printers and expand our reach globally.”
Accelerating ultrafast polymer 3D printing
The $55 million funding raised by the financing rounds will be used to bolster Nexa3D’s manufacturing operations in order to fulfill growing customer demand as the company looks to scale its commercial activities worldwide.
The company will also look to expand its customer acquisition activities and grow its global reseller channel, in addition to expediting several new products to market.
The new products slated to come to market in the near future include several “groundbreaking” polymer 3D printers and a new class of performance polymer materials. Meanwhile, the company will continue to develop its NexaX 2.0 software platform to aid its customers’ manufacturing productivity and supply chain resilience.
“Industrial manufacturing technologies need refreshing; supply chains are extremely complex and fragile,” said Reichental. “What Nexa3D is building is fundamentally transforming and digitizing manufacturing. At its core, Nexa3D’s AM platform opens the door to the next generation of performance polymers that cover the entire design-to-manufacturing cycle.
“This interplay of hardware, software and chemistry unlocks new properties for printed parts and enables process stability, production scaling, consistent product quality, higher yields and unmatched mechanical performance.”
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Featured image shows Nexa3D customer experience center with NXE 400 3D systems. Photo via Nexa3D.