Chromatic
RX-Flow
Chromatic 3D Materials has raised 3.1 million USD in an oversubscribed pre-financing round, with more than half of the investment coming from new investors.
The company, though still in its early revenue stage, has made its name in the development and supply of polymer 3D printing materials and its RX-Flow line of 3D printing systems.
It says the funds will be used to further develop its technology, scale production and grow its sales and technology teams. Chromatic will also harness the capital to advance applications-related research and development with partners in the transportation and defence industries.
To accelerate and expand its commercialisation efforts, Chromatic is also working to recruit software developers, additive manufacturing engineers and sales people, in its bid to grow the organisation by 35%. The company is preparing for a priced investment round later this year.
“The success of our pre-financing round shows intense confidence in our business even amid a tough investment climate,” Chromatic 3D Materials co-founder and CEO Cora Leibig said. “We are pleased to see such a positive response from investors who share our vision of transforming manufacturing and supply chains with our adaptable printing systems and industrial-grade materials.”
This investment follows a series of announcements made by Chromatic 3D Materials in the last 12 months. Last month, the company expanded its polyurethane 3D printer range with the introduction of the RX-Flow 2500, while it launched its rapid custom manufacturing service for rubber parts in March. It has also seen three of its materials pass CFR vertical burn tests to demonstrate compliance with anti-flammability standards for airworthiness.
Leibig will be the next guest on the TCT Additive Insight podcast, to be released on Monday August 21.
