US-based 3D printing technology developer Carbon expanded its series C round yesterday, raising $81m yesterday from corporates and undisclosed existing investors.
Petrochemical company JSR, carmaker BMW, optics and imaging equipment maker Nikon and industrial and automation product manufacturer General Electric, which invested through its GE Ventures unit, were named as investors.
Founded in 2013 as Carbon3D, Carbon has built a 3D prototyping machine called the M1 that can print isotropic parts with mechanical properties and finish comparable to injection-molded plastics, meaning it can be used for low-volume manufacturing.
In addition to investing, Nikon, JSR, BMW and GE are working with, or are customers of Carbon, with Japan-based Nikon and JSR assisting them with Asian expansion.
Maria Peterson, corporate venturing and innovation at JSR, by email said: “JSR’s expertise in light-sensitive resins and our interest and history in 3D printing motivated the investment, along with our belief in Carbon3D’s innovative technology and subscription business model. It should be a fun ride.”
Carbon will also utilise Nikon’s metrology and 3D data profile expertise while using JSR’s fine chemicals to explore manufacturing possibilities.
The company is using the additional funding to increase production of the M1 and plans to begin selling its Continuous Liquid Interface Production technology (CLIP) technology globally.
Steve Taub, senior director of advanced manufacturing for GE Ventures, said: “In today’s digital world, additive manufacturing is changing how products are designed, made and serviced at GE.
“Carbon’s CLIP technology can print exceptional quality parts for end-use production, opening the doors to incredible possibilities like low volume manufacturing, freedom of design, and mass customisation. We are excited to work with Carbon as part of our vision in deploying additive manufacturing applications across GE.”
The new funding was added to $100m in series C capital raised by Carbon in August 2015 from GV, a corporate venturing subsidiary of internet technology group Alphabet, payment technology provider FIS, design software provider Autodesk, Reinet Fund, Sequoia Capital, Silver Lake, Northgate Capital and Yuri Milner.
Information regarding additional strategic investors and the projects with which Carbon is assisting them will be disclosed in 2017. Carbon has now raised $222m altogether, including a $10m investment from Autodesk’s Spark Investment Fund in April 2015.
– Photo courtesy of Carbon, Inc