US-based additive manufacturing toolkit provider Dyndrite has secured more than $10m in a series A round led by Gradient Ventures, internet technology provider Google’s artificial intelligence-focused corporate venturing fund.
Venture capital firms Cota Capital and Amplify Ventures joined Gradient in the round, along with the University of California, Berkeley-affiliated House Fund and angel investor Carl Bass.
Founded in 2016, Dyndrite has created a software platform intended to enhance the capabilities of additive manufacturing tools such as 3D printers. The funding will support the beta release of its lead product as it looks to double the size of its team to 30 by the end of 2019.
Dyndrite was among the portfolio companies announced by Gradient when it officially launched in July 2017, but the unit has not disclosed details of the size of its previous investment.
Anna Patterson, managing partner at Gradient Ventures, said: “We are at a unique point in time where innovative manufacturing hardware has outpaced its software counterparts. Dyndrite is a new platform that takes into account modern computer architecture, modern design needs and modern manufacturing capabilities.”
