There’s been fairly a little bit of motion within the additive manufacturing house in current months. If I needed to pinpoint a cause, I might say that — very similar to robotics (one other house I observe pretty intently) — the class has gotten a lift in curiosity from the pandemic. Medical functions are understandably of curiosity these days, as is various manufacturing.
Desktop Metal, Markforged and new-comer Mantel have all made fairly massive bulletins in current weeks, and now Fortify is making the spherical with a major elevate. The Boston-based startup introduced a $20 million Series B equity round, led by Cota Capital with extra participation from Accel Partners, Neotribe Ventures and Prelude Ventures.
Fortify is trying to stake out a declare in materials deposits. Using digital mild processing (DLP) tech, the corporate can combine and print in a wide range of totally different supplies, with a variety of properties. The record consists of some helpful traits, together with electromagnetic and thermal.
Like Mantel, the corporate appears to be like to be focusing on manufacturing instruments, together with injection molding.
“Fortify has been targeted on proving the viability of our product and market alternative over the previous 18+ months, and exceeded our objectives set at the start of 2020,” CEO Josh Martin stated in a launch. “This subsequent spherical will develop our go-to-market footprint in key verticals resembling injection mould tooling whereas enabling us to seize market share in end-use digital units.”
Recent months have additionally discovered the corporate enlisting different 3D printing vets. Paul Dresens (ex Desktop Metal) signed on as VP of Engineering, whereas former GrabCad (a Stratasys acquisition) market exec Rob Stevens has signed on as an advisor.