The European Investment Bank (EIB) and the European Innovation Council (EIC) are investing €11 million and €4 million, respectively, into innovative startup DyeMansion. With this EU funding, DyeMansion will secure its long-term development as a company providing post-processing solutions for industrial polymer 3-D printing.
Its founders aim to improve digital manufacturing for an era in which 3-D-printed products will become part of everyday life. At the same time, the global leader in this highly specialised post-production technology is introducing two new board members — Felix Reinshagen and Peter Nietzer. The two experienced entrepreneurs, board members and investors in the business-to-business industrial tech sector will support DyeMansion in the next phase of its growth.
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The EIC Fund is Europe’s flagship innovation programme to identify, develop and scale up breakthrough and game-changing technologies. Following the successful market launch of DyeMansion’s VaporFuse technology and its Powerfuse S hardware, the EIC Fund is now adding additional funding. Back in 2020, the EIC had selected DyeMansion to be part of the first Green Deal call within the European Union’s Horizon 2020 research and innovation programme.
The additional funding from the EIB is backed by European Guarantee Fund (EGF) venture debt. EGF venture debt enables the Bank to provide growth capital to European small and medium-sized companies (SMEs) affected by the COVID-19 crisis. EGF venture debt is based on 100% risk coverage from the 22 participating EU Member States.
The EU funding brings the company’s total financing to $43 million. Recognising sustainability as one of DyeMansion’s core values driving each innovation from the fast-growing company, the EIB is providing particular support for research and development expenses.
DyeMansion is now able to bring even more new products to the market — and to do so faster — as it did with the Powershot Performance Series in 2021. DyeMansion’s innovations put it right at home in the factory of the future, using state-of-the-art automation technology to set up the industry 4.0-ready production lines of tomorrow.
DyeMansion has also announced that Felix Reinshagen and Peter Nietzer have joined its board. As an experienced entrepreneur, board member and investor, Nietzer will actively support the development of DyeMansion as Chairman of the Board. In addition to various active roles in the management of private and public sector companies, he currently supports firms as an investor and board member. Nietzer brings industry experience not least from his role as Chairman of the Supervisory Board of Voxeljet, which he has held since 2013.
Felix Reinshagen is founder and CEO of NavVis, a high-tech startup in the field of indoor digitalisation, indoor navigation, and location-based services. His experience in building a fast-growing high-tech company in the business-to-business industry environment will not only be available as a board member but also as a partner for DyeMansion’s founders and management.
The company’s existing investors — AM Ventures, btov Partners, UVC Partners, KGAL and Nordic Alpha Partners — continue to support DyeMansion’s expansion.
Arno Held, Managing Partner of AM Ventures, said: “I got to know Felix and Philipp before the incorporation of DyeMansion in 2015 and I am more than happy to have had the chance to support them ever since. I continue to be very impressed with what this strong team has achieved so far. Their technology has been a key driver in developing the additive manufacturing market further and in enabling high-volume applications. Their outstanding results last quarter and a strong pipeline for 2022 show the great potential of DyeMansion. And the best is yet to come.”
Felix Ewald, CEO and Co-Founder of DyeMansion, said: “The financial support of the European institutions as well as the additional expertise on the board will help DyeMansion continue to lead the transformation of the 3-D printing industry from the forefront. Combined with the momentum in the fourth quarter of 2021 and the continued support of our existing investors, we are now well positioned to continue to energetically develop relevant, highly industrial technologies that help our customers produce 3-D-printed products with superior quality.”
Nicklas Bergman, EIC Fund Investment Committee member, added: “We are proud to announce the EIC Fund support for DyeMansion. Through this investment, the EIC Fund is backing the additive manufacturing post-processing company’s growth and helping it to implement a more sustainable supply chain.”
Fabrizio Morgera, Senior Investment Officer at the EIB, said: “We are happy to support research and development activities at this innovative startup company. We believe in the 3-D printing market, and post processing is likely to be a winner following the COVID crisis, in terms of global supply chains and sustainability.”
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