AMT, a 3D Printing technology company dedicated to solving the challenge of manual finishing of 3D Printed parts, has completed its Series B financing round, bringing total funds raised to $25 (£18) million.
The financing was led by Foresight Group, investing again from its Foresight Williams Technology Funds, and was joined by new investors, Saint-Gobain Surface Solutions, part of the Saint-Gobain Group (FR), and 15th Rock Ventures (Japan). Existing investors, DSM Venturing, the venture capital arm of Royal DSM, Midwest Additive Ventures, and NPIF –Mercia Equity Finance, also participated.
The funding will support the roll out of the new generation of the world’s number one chemical vapor surface finishing system called PostPro SF, delivering AMT’s Digital Manufacturing System (PostPro DMS), while also scaling the company’s commercial operations. Additionally, AMT will continue to invest in, and protect, the company’s growing IP portfolio, which includes over 40 granted and pending patents.
Although the industry is set to scale 10x in the next decade, fuelled by the production of end-use parts for real life applications, these parts are printed ‘digitally’, but are still finished ‘manually’. These currently ‘analogue’ steps can account for up to 60% of the part’s cost, and therefore make 3D Printing unviable at scale. AMT’s technology directly addresses these challenges, with PostPro DMS set to deliver production speeds necessary for industrial 3D Printing.
“Although 3D Printing has been around for 20+ years, it is only now that we are starting to see the transition from low volume prototyping to end use manufacturing at scale. Our automated 3D Printed part finishing platform is enabling blue chip companies to manufacture everything from critical medical suppliers to industrial components” said Joseph Crabtree, CEO and Founder of AMT.
“We are proud that all of our current investors have recognized the progress we’ve made and are continuing to support our vision to transform the 3D Printing industry. This investment will allow us to commercialise and scale our end-to-end PostPro DMS Platform, for which we have already taken orders, and deliver on our vision of using 3D Printing as a viable alternative to traditional manufacturing.”
New Investors and Strategic Partners Saint Gobain commented “We are looking forward to being a strategic partner of AMT. This investment is in line with our ambition to be the preferred provider of surface finishing solutions for 3D printed components”, said Laurent Tellier, CEO of Saint-Gobain Surface Solutions.
“Automated post-production is becoming crucial to enabling 3D printing at industrial scale”, commented Andrew Bloxam, Director at Foresight. “This is a trend we see gathering pace and AMT has developed market-leading technology in this area. With this in mind, we are excited to continue supporting AMT as it looks to scale and expand into new markets.”
New Investors 15th Rock commented, “We could not have asked for a better opportunity in the fast-emerging 3D Printing industry. We are delighted to have had the opportunity to invest in AMT and became a collaboration partner to help AMT’s business grow in Japan and the APAC region.”
AMT’s technology platform underpins the world’s largest 3D Printing manufacturing operations with the systems deployed across 25 countries in over 150 locations. To date over 6 million parts have been post-produced with AMT’s technology.
