Raise3D, a maker of 3D printers, has raised $15.81 million in a Series C funding round.
The firm plans to use the new funds to expand its product portfolio by developing new printers and filaments for high-precision industrial production applications. “This funding will enable us to develop a larger product portfolio for this market, ranging from 3D printers to filaments, with an expanding range of applications, particularly for high-precision industrial production,” said Edward Feng, Raise3D’s Founder and CEO.
Raise3D, which has made a name for itself in the FFF 3D printing market, offers a wide range of 3D printing products, including dual-extrusion 3D printers, materials, and software. In August of last year, the company announced several new additions to its printer portfolio, including the launch of its new desktop carbon fiber-ready E2CF 3D printer. The E2CF is the company’s award-winning E2 machine’s successor, and it has the same dual extrusion IDEX technology and flexible build plate as the original, but with the added capability of depositing fiber-reinforced materials.
Raise3D announced its new Pro3 Series of extrusion-based 3D printers a few months later, an upgrade from its previous Pro2 Series with improved usability, industrial-grade repeatability, and overall higher performance. The company recently unveiled its new large-format RMF500 IDEX 3D printer, which is designed specifically for the production of large industrial-grade parts. The machine, which can extrude carbon fiber filaments, is primarily designed for functional prototyping and small batch production. Raise3D has also been busy improving its software, releasing the latest version of its slicing software, the ideaMaker 4.2.0 Beta, in August of last year, complete with one-click integrations with the company’s ideaMaker Library software and a number of bug fixes for a more refined user experience.
Increasing the size of your portfolio
Raise3D plans to use its new $15.8 million funding to expand its product portfolio across hardware and materials, with future releases already in the works. From 2019 to 2021, the company claims to have experienced “solid” annual turnover growth of 21.5 percent and has significantly increased its market share. As a result, the firm has amassed a growing pool of investors who have contributed to the firm’s most recent funding effort. Raise3D has sold around 10,000 professional 3D printers worldwide as of February 2022, and its ideaMaker offering is used by more than half a million people. Additionally, the company’s RaiseCloud printer management and monitoring software is used by over 30,000 businesses and individuals.
Raise3D offers a wide range of professional FFF filaments in addition to its hardware and software, including a newly launched industrial segment that includes PA12 CF and PPA filaments. Raise3D’s Open Filament Program (OFP), which is constantly expanding, allows users to get the most out of their prints by using third-party filaments. “We will continue to invest in the research and development of high-performance 3D printing materials, such as metal, ceramic, and fiber-reinforced composite filaments, to ensure the reproducibility needed for industrial production and to empower intelligent industrial manufacturing,” Feng said. “We are very optimistic about the next stage of our products, and our customers are equally excited about our upcoming releases.”
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