3D printer manufacturer Raise3D has closed a Series C funding round raising $15.81 million.
With the new funds, the firm will look to expand its product portfolio with new printers and filaments geared towards high-precision industrial production applications.
“This funding will propel us to develop a larger product portfolio for this market, from 3D printers to filaments, with an expanding range of applications, especially for high-precision industrial production,” said Edward Feng, Founder and CEO of Raise3D.
Raise3D’s 3D printing portfolio
Having built a name for itself in the FFF 3D printing market, Raise3D offers a broad range of 3D printing products ranging from dual-extrusion 3D printers to materials and software.
The company has recently announced several additions to its printer portfolio, launching its new desktop carbon fiber-ready E2CF 3D printer in August last year. The E2CF is the successor to the firm’s award-winning E2 machine, and features the same dual extrusion IDEX technology and flexible build plate as the original but with the added capability of depositing fiber-reinforced materials.
A few months later, Raise3D unveiled its new Pro3 Series of extrusion-based 3D printers, an upgrade on its previously launched Pro2 Series featuring improved usability, industrial-grade repeatability, and generally higher performance.
Most recently, the company launched its new large-format RMF500 IDEX 3D printer specially designed for the production of large industrial-grade parts. Equipped with carbon fiber filament extrusion capabilities, the machine is primarily intended for functional prototyping and small batch production.
Raise3D has also been busy making improvements on the software side of its business, having launched the latest version of its slicing software in August last year, the ideaMaker 4.2.0 Beta, complete with one-click integrations with the company’s ideaMaker Library software and several bug fixes for a more refined user experience.
Developing a larger portfolio
With its new $15.8 million funding, Raise3D is looking to continue expanding its product portfolio across hardware and materials, with future releases currently under development.
The company says it has shown a “solid” annual turnover growth of 21.5 percent from 2019 to 2021, and has substantially increased its market share. In turn, this has gained the firm a growing pool of investors which have contributed to the latest firm’s latest funding effort.
As of February 2022, Raise3D has sold around 10,000 professional 3D printers worldwide, while its ideaMaker offering is being used by more than half a million people across the globe. Additionally, some 30,000 businesses and individuals make use of the firm’s RaiseCloud printer management and monitoring software.
Alongside its hardware and software offering, Raise3D provides a wide-ranging professional FFF filament range, of which a newly launched industrial segment contains PA12 CF and PPA filaments. The firm’s continually expanding Open Filament Program (OFP) also enables Raise3D users to get the best out of their prints using third-party filaments.
“We will invest continuously in the research and development of high-performance 3D printing materials, such as metal, ceramic, and fiber-reinforced composite filaments, providing the reproducibility required for industrial production, and empowering intelligent industrial manufacturing,” said Feng.
“We are very confident in the next stage of our products, and our customers are also very much looking forward to our future releases.”
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Featured image shows Raise3D’s 3D printer portfolio. Image via Raise3D.