Fortify, a Boston-based additive manufacturing startup, secured an equity investment of $20M led by Cota Capital with additional participation from Accel, Neotribe Ventures, and Prelude Ventures. This investment will be used to mass manufacture its Flux 3D printer series. Additionally, the funding will be expended on expanding the team and accelerating expansion in high-value application spaces.
Bobby Yazdani, Founder and Partner at Cota Capital expressed, “The additive manufacturing market is rapidly expanding, and we believe that Fortify is unlocking one of the key barriers to growth of the industry: advanced materials. are excited to collaborate and support the company as it continues to redefine advanced manufacturing.”
Flux 3D Printer
Identifying a need for better material properties in 3D printing, Fortify invented Digital Composite Manufacturing (DCM), which combines proprietary systems for mixing and magnetic alignment with digital light processing (DLP) to produce composite parts with optimized mechanical, thermal, and electromagnetic properties. The hardware combined with software, materials development, and processing expertise is opening up new additive manufacturing capabilities by tuning material properties for specific applications.
The team has continued to steadily grow over the past 18 months with most notable hires including Paul Dresens, VP of Engineering, formerly of Desktop Metal, and Advisor Rob Stevens, formerly of GrabCad and Stratasys. The round will be used to accelerate time to market on several high-value strategy material development programs between Fortify and its material partners.
According to Josh Martin, CEO and Cofounder of Fortify, “Fortify has been focused on proving the viability of our product and market opportunity over the past 18+ months, and exceeded our goals set at the beginning of 2020. This next round will expand our go-to-market footprint in key verticals such as injection mould tooling while enabling us to capture market share in end-use electronic devices.
Fortify has previously announced partnerships with Henkel, DSM, Tethon3D, and will be making additional announcements over the course of 2021.
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