Phase3D has closed an oversubscribed funding round, raising $2.9 million to expand capabilities and accelerate software deployment.
The company says the investment marks a 'deliberate and exciting' new chapter for Phase3D, with a plan in place to move from a 'high-mix custom build model to standardised product manufacturing at scale.'
As it aims to become the industry standard for in-process inspection in metal additive manufacturing, Phase3D will set about expanding its software and data science capabilities, enhancing its structured-light heightmap sensor and scaling up Fringe Inspection. It will also look to speed up deployments across a 'growing pipeline of enterprise and government customers.' Phase3D currently supports enterprise customers across aerospace, defence, and industrial markets, with deployments and collaborations spanning organisations including NASA, the U.S. Air Force, and the U.S. Navy.
“We are excited to announce Phase3D’s completion of a pivotal funding round,” said Dr Niall O'Dowd, founder and CEO of Phase3D. “We have raised capital to support the continued growth and increasing deployments of our flagship quality inspection product for metal 3D printing. This investment will catalyse faster adoption of real-time quality inspection for additive manufacturing, and we are very excited for the future.”
“We have been through some distinct stages of growth at Phase3D,” added Ben Ferrar, COO & CFO of Phase3D. “Initially, we worked to develop the technology to ensure robust, repeatable measurements for metal additive manufacturing. Next, we focused heavily on deploying our products to customers to translate metrology data into meaningful decisions. Now, this investment enables us to scale up manufacturing as we drive to become the industry standard for in-situ inspection.”
The round was led by Quest Venture Partners, with participation from Trinity Capital, Kinisis Ventures, Leroy Street Capital Partners, Asimov Ventures, and more.
In addition to the fundraising, Phase3D has announced Carter DeLuca partner Ray Farrell is to join its Board of Directors. Farrell is said to have a strong track record of helping ventures build IP strategies that support both sustained growth and successful exits, and is expected to support Phase3D in building its IP infrastructure and enabling commercial scale.
“When the Phase3D opportunity came up, what stood out was the early customer traction. It’s special to have aerospace and automotive prime customers while simultaneously addressing top-level initiatives from the Air Force, Navy, and NASA,” offered Farrell.
