Markforged, based in Massachusetts, USA is a manufacturer of industrial 3D printers and closed an $82m Series D round of funding. The round was led by Summit Partners, an investment firm that closed a $4.9 million growth equity fund on March 2019. Investors including Matrix Partners, Microsoft Ventures M12, Porsche SE, and Siemens next47 also participated in the round, that means to the company $137M total funding.
In conjunction with the funding, Michael Medici, a Managing Director at Summit Partners, has joined Markforged’s Board of Directors.
We have been actively monitoring the 3D Printing market for the last decade and are excited to partner with the Markforged team.”,
Michael Medici, Director of Markforged
Markforged intends to use the funds to accelerate its product roadmap, including the introduction of mass production printers and new materials. It’s expected a regional headquarters in Asia this year, as well as double its global headcount in engineering. Markforged will add 200 jobs to its existing employee base of 230 in Boston. They also plan to open an AM facility in the greater Boston area. Markforged was founded in 2013 by Greg Mark and the core business is to make industrial 3D printers for metal, composite and plastic parts. In September 2018, the company settled a trade secret and corporate espionage lawsuit with another player, Desktop Metal.
“Markforged has been quietly executing at an incredible pace for the last five years, delivering exceptional products that solve real-world industrial manufacturing needs. Greg and his team are focused on continued product innovation, and we believe the best is yet to come for Markforged and its customers.”, said Michael Medici.
Find More Additive Manufacturing Industry News
- Sources & More information
Related article categories:
Article and featured image:
Source: Thomas 3Ders.org Markforged raises $82M Series D from Summit Partners, Microsoft, Porsche and Siemens http://www.3ders.org/articles/20190320-markforged-raises-series-d-from-summit-partners-microsoft-porsche-and-siemens.html, published on Mar18, 2019 and was re-edited by João Andrade on Mar19, 2019;