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Inkbit closed a $12MM equity financing round led by Stratasys and DSM Venturing, with additional participation from Ocado, 3M and Saint-Gobain. Proceeds will support industrialization of the company’s AM system to fit the requirements of multi-material and volume manufacturing, expand the set of materials for medical, life sciences and robotics applications and install the first units for customers.
This new capital raise follows on the company’s first $2.8MM round led by IMA in 2017. Inkbit is also funded by the Defense Advanced Research Projects Agency, the National Science Foundation and MassVentures.
Inkbit built the first 3D printer driven by vision-based feedback control and artificial intelligence. 2D material jetting is used in a range of processes, such as ceramic and textile manufacturing. While its 3D counterpart is established in prototyping applications, limited material choice has restricted its use in production. Inkbit’s contactless material jetting process eliminates the need for planarization and supports printing of multi-material parts with production-grade materials.
Through an early access program, the company has begun working with customers, such as Johnson & Johnson, to develop an initial set of applications. The company plans to release first systems to select customers in 2021. Inkbit machines will enable volume production capabilities, high accuracy and automated quality assurance for every printed part.
“As pioneers of jetting-based additive manufacturing solutions, we are excited to help Inkbit bring their technology to the factory floor. Vision-based feedback control and artificial intelligence will take additive manufacturing to a whole new level and will help to enable its widespread use for production,” said Ronen Lebi, Vice President of Corporate Development at Stratasys.
“Materials always play a major role in industrializing breakthrough technologies and in additive manufacturing they become absolutely critical. We are delighted to have Inkbit in our investment portfolio and look forward to helping them develop the best materials for customers world-wide,” said Pieter Wolters, Managing Director of DSM Venturing.
Among others joining Inkbit’s Board of Directors following this announcement is Magnus René, former CEO of Arcam and veteran in the additive manufacturing industry.
