3D printing startup bags new funds worth $81m

Sep 16, 2016, 4:28 AM EDT
3D-printed coffee cup
(Source: Creative Tools/flickr)

Carbon, a three-year-old tech startup based in Silicon Valley, took a big leap towards the international expansion of its 3D printing business by securing a whopping $81million in new funding. The firm, which develops 3D printers to produce medical devices and car parts on demand, has now raised a total investment of $222 million.

The company’s investor portfolio now comprises automaker B.M.W. Group, industrial conglomerate General Electric Co, optics and imaging products company Nikon Corp and chemical manufacturer J.S.R. Corp besides the initial investors Google Ventures and top tech venture capital firm Sequoia, reports Reuters.

Terry Wohler of Wohler Associates, an additive manufacturing consultancy firm based in Colorado, praised Carbon for its incredibly good job at getting investors, adding that the firm now faces the challenge to match the durability and price points of products, manufactured using injection molding technology.

Carbon’s 3D printers manufacture products by a photochemical process that is controlled using cloud-based design software and are “capable of printing up to 100 times faster than rival 3D printers, writes Tech Crunch. “You can imagine that if we give clients a great on-demand manufacturing tool, it's not just the product that changes, it’s the business that changes,” Carbon vice president of product management said. 

TAGS: Carbon