Carbon3D, 3D printing startup has secured $100 million in Series C round of funding led by Google Ventures along with new investors Yuri Milner, Reinet Fund S.C.A, F.I.S and old investors Sequoia Capital, Silver Lake Kraftwerk and Northgate Capital.
Founded in 2013, the Silicon Valley-based company Carbon3D aims to implement 3D printing in the actual manufacturing space into the commercial sector instead of creaating basic prototypes. It targets various industries like aerospace, automotive, consumer electronics, athletic apparel, medical/dental and industrial groups. Unlike the traditional approach, the company aims to widen the material choices, use better hardware parts and reduce the printing time. The startup hopes to change the way the products are produced and also reduces the costs incurred.
The Silicon Valley startup recently introduced Continuous Liquid Interface Production technology (CLIP) at Ted conference in Vancouver which claims to take 3D printing beyond prototyping. The technology makes use of the tuneable photochemical process rather than the usual traditional mechanical approach, which eradicates the limitations of the traditional layer-by-layer 3D printing technology to quickly transforming 3D models into final parts in the range of good quality engineering grade materials. Ford Motor Company had been one of the early testers of the technology.
“Carbon3D’s printing technology is an order of magnitude faster than existing technologies,” said Andy Wheeler, General Partner at Google Ventures. “Carbon3D’s technology has the potential to dramatically expand the 3D printing market beyond where it stands today and reshape the manufacturing landscape.”
“We are excited to have closed this round of financing with such incredible partners who will help us deliver on our vision. Google has broad aspirations. They are doing a lot of things with hardware and prototyping and the ability to support them in that is going to be very cool” said Joseph M. DeSimone, CEO and co-founder of Carbon3D. “Together we have a tremendous opportunity to enable a renaissance in manufacturing.”
The new funds will support the company to improve its technology and materials used for 3D printing and help them eliminate the drawbacks of the conventional 3D printing. This funds are expected to provide flexible printing solutions for the manufacturing industries. Till date, the startup had secured a total funding of $141 million.
“We will be placing a couple dozen more 3D printers this calendar year and expect general availability early next year,” said DeSimone. The expected price of the product has not be revealed so far.