So-called “additive manufacturing,” or 3D printing for industry, is increasingly popular as the variety of materials expands and printers become more robust and flexible. The ability to print parts or whole products on demand has the potential to reinvent manufacturing across a wide range of industries.
“Industrial additive manufacturing is ripe for transformation,” said Essentium cofounder and CEO Blake Teipel in a statement.
Essentium sells 3D printers, but it also develops materials for manufacturing and the software to manage the process. The company recently introduced its new High Speed Extrusion (HSE) Platform.
The round was led by BASF Venture Capital, with additional investment from Materialise, Genesis Park, and previous seed round investors. The company says the new investment will be used to “scale manufacturing, engineering, international distribution, sales and marketing operations to meet market demand.”
VentureBeatVentureBeat's mission is to be a digital town square for technical decision-makers to gain knowledge about transformative technology and transact. Our site delivers essential information on data technologies and strategies to guide you as you lead your organizations. We invite you to become a member of our community, to access:
- up-to-date information on the subjects of interest to you
- our newsletters
- gated thought-leader content and discounted access to our prized events, such as Transform
- networking features, and more