Ploymaker/ YouTube
Polymaker $5m equity funding
In 2016, Polymaker launched two new products, the Polysher and PolySmooth, on KickStarter.
Polymaker, one of the leading producers of materials for 3D printing, has received a new round of equity funding, amounting to $5 million.
This most recent cash injection, led by a leading venture capital (VC) firm in China, comes after an initial round of funding in 2015 from LegendStar, an affiliate of the IT giant Lenovo.
Based in Shanghai itself, Polymaker reported a healthy, market-driven growth in 2016, with an increase in revenue of over 200% compared to the previous year. Polymaker see the figures as a reward to the company’s commitment to delivering only the best 3D printing materials to its customers around the world. The $5m of funding not only recognises the company’s successful year, but will enable further growth.
Specifically, the recent funding will be used to expand Polymaker’s manufacturing capacity, as well as to fuel the R&D of next-generation products, while developing new applications and supporting the company’s customers worldwide.
“Our customer base ranges from hobbyists to the most advanced industrial customers in the world and the funding allows us to exceed expectations to our global customers’ business needs,” said Dr Xiaofan Luo, President of Polymaker.
Polymaker/ YouTube
Polymaker receives $5 million in equity funding from Chinese venture capital firm
Polymaker's 2016-released products enable for the first time high quality, layer-free prints to be obtained effortlessly and cost-effectively using extrusion-based 3D printing technologies.
Jeffrey L Walters, Polymaker’s newly-appointed Vice President of Business Development, also believes the company is now in a position to improve on the market standards for 3D printing filament. Previously of Toner Plastics, in a similar role for four years, Walker brings six year’s worth of his own 3D printing experience. Polymaker see his appointment as a big step in its aim to better serve customers across the Americas for their growing material needs. Likewise, Walker is confident everything is in place for Polymaker’s continued progression.
“Polymaker is known throughout the entire industry as a leader in quality, service, and performance of their 3D printing filaments,” said Walters. “We expect to grow significantly by delivering more than what is expected as a proper business partner, industry consultants, and deliver the highest standards of quality in the manufacturing process. We believe our filament portfolio and its overall performance will challenge the market standards and will be refreshing for its global users.”
In 2016, Polymaker launched two new products, the Polysher and PolySmooth, on KickStarter. They enable for the first time high quality, layer-free prints to be obtained effortlessly and cost-effectively using extrusion-based 3D printing technologies. The two products also represent the company’s innovative creations that has enabled the company to not only establish itself in the 3D printing sector, but also penetrate a variety of industrial markets.
Following on from the Polysher and PolySmooth releases, Polymaker has hinted that it has plans to launch a variety of new products this year, with announcements expected in the coming months.