The investment brings BCN3D’s total funding to €5,5 million and will help the company enable development in new materials and hardware
BCN3D, a leading Spanish 3D printer manufacturer, announced today that it has secured a €2.8 million in funding during Covid-19 pandemic. CDTI (the Spanish National Innovation Agency) and Mondragon Group, one of the top Spanish industrial business groups, led the investment round respectively through Innvierte and its venture capital fund managed by Clave Capital, together with Accurafy4, JME Venture capital, and Danobatgroup. Is the first time that Mondragon invest in 3D printing technology.
The investment brings BCN3D’s total funding since the spin-off in 2019 to €5,5 million and will help the company enable development in new materials and hardware.
The investment will be used to strengthen the development of new hardware features for the workbench segment on top of the BCN3D’s developed IDEX technology, the only extrusion system capable of printing with two heads independently. It will also be used for the development of new industrial-grade materials designed to deliver outstanding results for BCN3D printers in collaboration with BASF Forward AM and Mitsubishi Chemical. BCN3D Filaments, formulated to ensure the highest print quality, are common polymers in several industries and cover the majority of the technical applications.
In the partnership with Danobatgroup, the benchmark manufacturer of high value-added solutions in the field of grinding, turning, cutting, punching, bending and automated production systems for composite structural components, BCN3D will combine knowledge from both industries for future technologies.
BCN3D has shown to be a valuable asset in difficult times during the pandemic. The company started the “We Are Here To Help” campaign against COVID-19. They have been working with healthcare providers, government organizations, and their network of professionals on designing, prototyping, and producing different vital parts for healthcare professionals. In just a month, more than 4200 reusable face shields from BCN3D have reached over 50 hospitals and health centers across all of Europe.
Speaking about the investment in BCN3D, Alberto Bermejo, Investment Director at Clave Capital said, “Not only does BCN3D perfectly fit our long-term strategy for the additive manufacturing industry with its vision to make 3D printing accessible, we firmly believe BCN3D can push the limits in the 3D printing industry.”
Excited at the huge funding round in such a global crisis times, Xavier Martinez Faneca, CEO at BCN3D, said, “We are excited to have the support of Mondragon. It will allow us to strengthen our innovation plans for the workbench segment. I look forward to being part of this next phase of BCN3D, as we will accelerate the accessibility of 3D printing”.
About CDTI: CDTI is the body of the Spanish General State Administration that supports knowledge-based innovation; advising and offering public assistance for innovation through subsidies or partially reimbursable grants.
About Mondragon: Mondragon Corporation is a business group born in the Basque Country and made up of autonomous and independent cooperatives, with production subsidiaries and corporate offices in 41 countries and sales in more than 150.
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