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Manufacturing Technology Insights | Monday, May 24, 2021
Nexa3D will use the funds to broaden its manufacturing operations to meet and customer demand, scale commercial activities internationally, expand customer acquisition and customer success operations, increase its global reseller channel, and bring many new products to market faster.
FREMONT, CA: Nexa3D, the pioneer of ultrafast production-grade polymer 3D printers that allow the next generation of additive manufacturing, announced that it has completed funding rounds totaling more than 55 million dollars. OurCrowd and Saudi Aramco Energy Ventures, a multibillion-dollar alternative asset manager and current investors, led the rounds, with participation from new investors as well. Nexa3D will use the funds to broaden its manufacturing operations to meet and customer demand, scale commercial activities internationally, expand customer acquisition and customer success operations, increase its global reseller channel, and bring many new products to market faster.
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“This financing puts us in a strong leadership position to accelerate the transition of additively manufactured polymers from prototyping to production at scale,” commented Avi Reichental, Co-founder and CEO, Nexa3D. “We are grateful for the enormous validation we are receiving from our customers and investors during a very challenging operating period and are deeply appreciative of our incredible team who continue to work passionately on advancing our customers’ productivity, supply chain resiliency and sustainability. Despite the unprecedented and challenging operating environment, we achieved strong growth, introduced two ultrafast photoplastic 3D printers, brought a new generation of functional materials to market, added Quantum Laser Sintering capabilities to our portfolio and attracted a top-tier leadership team. We are now prepared to accelerate the development of our full line of polymer AM printers and expand our reach globally.”
Nexa3D will also be able to expand its overall polymer technology leadership by accelerating the production and commercialization of several new innovative polymer 3D printers, introducing a new class of performance polymers, and extending the development and implementation of its proprietary software platform.
OurCrowd CEO, Jon Medved, said, “we are delighted to increase our investment in Nexa3D, the leader in ultrafast polymer 3D printers. Since backing the company in its earliest days, we believed in the vision and future development of this remarkable new market for additive manufacturing. Today the market has really arrived and is now growing dramatically. This significant new investment will allow Avi Reichental and the brilliant Nexa3D team to extend their market leadership, as they deliver a host of new products and breakthrough technologies to an ever-larger group of satisfied global customers and partners.”
Nexa3D intensified its product growth and commercial activities during the Covid-19 pandemic, achieving major milestones such as:
NXE400, the company’s flagship ultrafast photo plastic, was introduced, resulting in a 20-fold increase in productivity.
Developed a disruptive open materials model, forming partnerships and joint partnerships with the world’s leading material suppliers such as Henkel, BASF, Covestro, and Keystone.
The materials library has been expanded to 16 materials, allowing ground-breaking polymer solutions that open up new use cases and applications.
Launched large-format dental lab 3D printer, the NXD200, delivering the highest efficiency, precision, and performance for the dental market.
New xCure post-processing equipment and consumables were developed and introduced.
Nexa3D’s product portfolio has been expanded to include a wide range of supply chain-approved powder fusion plastics, nearly doubling the company’s existing addressable market.
Commercialized its NexaX 2.0 Software Platform, delivering a detailed file-to-part software thread that stretches the 20X productivity advantage of its ultrafast 3D printers.
“Industrial manufacturing technologies need refreshing; supply chains are extremely complex and fragile,” shared Reichental. “What Nexa3D is building is fundamentally transforming and digitizing manufacturing. At its core, Nexa3D’s AM platform opens the door to the next generation of performance polymers that cover the entire design-to-manufacturing cycle. This interplay of hardware, software and chemistry unlocks new properties for printed parts and enables process stability, production scaling, consistent product quality, higher yields, and unmatched mechanical performance.”
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