Markforged series c funding
Industrial 3D printing company, Markforged has successfully closed an 82 million USD Series D funding round to accelerate its global expansion and product roadmap, including mass production 3D printers and new materials.
The round has been led by Summit Partners with participation from existing strategic and financial partners, including Matrix Partners, M12, Microsoft’s Venture Fund, Next47, and Porsche SE.
“Markforged set out to change the pace of human innovation by enabling engineers, inventors and manufacturers to print industrial-grade parts at a fraction of the time and cost of traditional methods,” said Greg Mark, CEO and co-founder of Markforged. “We’re very excited to have Summit join us as we help accelerate the next industrial revolution with broadly accessible and reliable 3D printing.”
Founded in 2013, Markforged develops affordable solutions for carbon fibre and metal 3D printing. With its Metal X technology, an extrusion-based bind and sinter process, the company suggests it can deliver 3D printed metal prototype parts 50x faster and 20x cheaper than traditional machining. In 2018 alone, the company shipped more than 2,5000 machines and has amassed customers in more than 50 countries.
“We have been actively monitoring the additive manufacturing market for the last decade and are excited to partner with the Markforged team,” said Michael Medici, a Managing Director at Summit Partners who has joined the company’s Board of Directors. “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.”
