Markforged aims to accelerate its product roadmap and increase its global footprint of affordable additive manufacturing
Markforged, one of the leading manufacturer of industrial 3D printers for manufacturing and factory floors, yesterday raised $82 million series D investment round led by Summit Partners. Its strategic & financial partners, like Matrix Partners, M12, Microsoft’s Venture Fund, Next47, and Porsche SE also participated in the round.
Markforged will use the investment to accelerate its product roadmap including the introduction of mass production printers and new materials. The company also plans to increase its global footprint and strengthen its market share in the $12 trillion manufacturing industry.
Additive manufacturing is a crucial piece in the new age industrial revolution the world is currently witnessing. Experts believe additive manufacturing will be one of the most important driving force in Industry 4.0 leading to significant cost reductions, restructuring manufacturing models and shifting the priorities of production methods and improving the manufacturing efficiency.
Speaking about the recent funding, Greg Mark, CEO and co-founder of Markforged said, “Markforged set out to change the pace of human innovation by enabling engineers, inventors and manufacturers to print industrial-grade parts at a fraction of the time and cost of traditional methods. We’re very excited to have Summit join us as we help accelerate the next industrial revolution with broadly accessible and reliable 3D printing.”
Commenting on their investment in Markforged, Michael Medici, Managing Director at Summit Partners said, “We have been actively monitoring the additive manufacturing market for the last decade and are excited to partner with the Markforged team. Markforged has been quietly executing at an incredible pace for the last five years, delivering exceptional products that solve real-world industrial manufacturing needs. Greg and his team are focused on continued product innovation, and we believe the best is yet to come for Markforged and its customers.”
Founded in 2013, Markforged has steadily rose through the industry to be named as the 10th fastest growing technology company in North America (according to Deloitte) and was mentioned in Forbes’ list of ‘Next Billion Dollar Startups’.
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