Evolve Additive solution Acquires $30 million in funding
Following its recent success from earlier fundraising efforts that saw Over $25 million contributed by Stratasys,
Lego Brand Group and Stanley Black & Decker.
Evolve Additive in a press release,
Revealed that it has acquired $30 million extra in the form of a Special Purpose Vehicle (SVP) from 3D ventures and its partners.
Evolve Additive intends to use this latest funding to increase commercial sales and distribution of its scaled Production platform (SVP) in Europe and North America.
According to Steve Chilscyzn, CEO and founder of Evolve Additive
“Funding from 3D ventures shows confidence in our corporate model,
Growth path and our ability to meet a need in the 3D printing market space,”
Furthermore ” backings from both strategic and investment partners have balanced the company even more.
Improving Evolve Additive’s STEP 3D printing
After splitting from 3D printer OEM Stratasys in 2017,
Evolve Additive Solutions have been developing its proprietory Selective Thermoplastic Electrophotographic Process(STEP).
The STEP Technology
The STEP technology has been estimated to be 50 times faster than SLS 3D printing
And ensures a shorter time to market with “toolless” production.
This is achieved by placing feedstock layer by layer onto a build area, via a moving belt until the 3D shape is formed.
The firm has partnered with several top firms including Kodak and Evonik to advance its STEP technology.
has recently partnered with siemens digital industries software to combine their STEP technology with SIemens’ Xcelerator software.
I have printed many parts over the course of my career and, in my opinion, the Evolve SVP system is the best 3D printer capable of competing directly with injection molding in terms of part quality, part cost and throughput,Joe Allision
In the future, the companies are hoping to offer software-hardware that gives agile and flexible 3D printing.
3D Ventures and its partners are ‘Accomplished operators and investors” with decades of experience in 3D printing, space.
By partnering with 3D ventures, Evolve believed the organisation will bring a unique pool of industry talents and resources in addition to capital.
Evolve Additive has seen product portfolio expansion within the last 6 months, The Funding from 3d ventures follows this growing trend.
The funding has increased Evolve’s growth pattern and portfolio.
Sources: Business wire, Evolve Additive solution