US-based industrial 3D printer manufacturer Markforged completed an $82m series D funding on Wednesday that included industrial and appliance technology provider Siemens, software provider Microsoft and carmaker Porsche.
Growth capital firm Summit Partners led the round, which included private equity firm Matrix Partners, while Siemens and Microsoft participated through respective subsidiaries Next47 and M12.
Founded in 2013, Markforged has developed metal and composite printers that allow engineers, designers and manufacturing professionals to produce fixtures or prototypes more quickly and affordably than with established methods.
The series D capital will fund the development of mass production printers and the addition of new materials to Markforged’s printing processes, in addition to the company’s international growth plans. The round increased its overall funding to $139m.
Greg Mark, Markforged’s co-founder and chief executive, said: “Markforged set out to change the pace of human innovation by enabling engineers, inventors and manufacturers to print industrial-grade parts at a fraction of the time and cost of traditional methods.
“We are very excited to have Summit join us as we help accelerate the next industrial revolution with broadly accessible and reliable 3D printing.”
Next 47 led a $30m series C round for Markforged in late 2017, investing alongside M12 (then still known as Microsoft Ventures), Porsche and existing backers Matrix Partners, North Bridge Venture Partners and Trinity Ventures at a reported valuation of $300m.