US-based construction materials printing technology developer Branch Technology closed an $11m funding round led by building analytics technology producer EquipmentShare yesterday.
The round was backed by venture capital firm Brick & Mortar Ventures, angel-stage investment fund Chattanooga Renaissance Fund and undisclosed existing investors.
Branch has assembled a fleet of industrial-scale 3D printers equipped to produce composite building materials such as cladding and cement. The capital will fund recruitment to boost its expertise in engineering, building science and software development and increase its 3D printer capacity.
The company said it has now raised a total of $22m in funding to date, including a series A round of undisclosed size in 2018. Regulatory filings show it received a total of $9.4m in equity funding across three tranches from 2016 until May 2019, $6.5m coming in June 2018.
Real estate technology-focused accelerator Metaprop is among the earlier investors in the company , as are Brick & Mortar Ventures, Bonaventure Capital and LaunchTN.