Markforged raises $82 million for its industrial 3D printers
3D printer manufacturer Markforged has raised another round of funding. Summit Partners is leading the $82 million Series D round with Matrix Partners, Microsoft’s Venture Arm, Next47 and Porsche SE also participating.
When you think about 3D printers, chances are you’re thinking about microwave-sized, plastic-focused 3D printers for hobbyists. Markforged is basically at the other end of the spectrum, focused on expensive 3D printers for industrial use cases.
In addition to increased precision, Markforged can manufacture parts in strong materials, such as carbon fiber, kevlar or stainless steel. And it can greatly impacts your manufacturing process.
For instance, you can prototype your next products with a Markforged printer. Instead of getting sample parts from third-party companies, you can manufacture your parts in house. If you’re not going to sell hundreds of thousands of products, you could even consider using Markforged to produce parts for your commercial products.
If you work in an industry that requires a ton of different parts but don’t need a lot of inventory, you could also consider using a 3D printer to manufacture parts whenever you need them.
Markforged has a full-stack approach and controls everything from the 3D printer, software and materials. Once you’re done designing your CAD 3D model, you can send it to your fleet of printers. The company’s application also lets you manage different versions of the same part and collaborate with other people.
According to the company’s website, Markforged has attracted 4,000 customers, such as Canon, Microsoft, Google, Amazon, General Motors, Volkswagen and Adidas. The company has shipped 2,500 printers in 2018.
With today’s funding round, the company plans to do more of the same — you can expect mass production printers and more materials in the future. Eventually, Markforged wants to make it cheaper to manufacture parts at scale instead of producing those parts through other means.