- Financing accelerates Nexa3D’s commercial activities and propels its development of groundbreaking technologies
- Company made significant technical breakthroughs, strengthened its global partner channel and scaled up its infrastructure
- Plans to participate at the 16th Annual Needham Technology & Media Conference on May 17, to discuss how Nexa3D delivers on the momentous shift to production-grade polymer additive manufacturing
Nexa3D, the pioneer of ultrafast production-grade polymer 3D printers enabling the next generation in additive manufacturing, announced today that it closed financing rounds exceeding $55 million in funding. The rounds were led by a multi-billion-dollar alternative asset manager and existing investors, OurCrowd and Saudi Aramco Energy Ventures, with participation from new investors as well. This funding enables Nexa3D to bolster its manufacturing operations to fulfill increasing customer demand, scale commercial activities worldwide, expand customer acquisition and customer success operations, grow its reseller channel globally, and expedite several new products to market. In addition, the funding allows Nexa3D to extend its overall polymer technology leadership by fast-tracking the development and commercialization of several new groundbreaking polymer 3D printers, launching a new class of performance polymers, and accelerating the development and deployment of its proprietary software platform.
“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, Nexa3D’s co-founder and CEO. “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.”
Throughout the Covid-19 pandemic, Nexa3D accelerated its product development and commercial activities and achieved significant milestones including:
- Launched flagship ultrafast photoplastic NXE400, providing 20X productivity improvement
- Developed a disruptive open materials model, forming partnerships and joint collaborations with the world’s leading material suppliers including Henkel, BASF, Covestro and Keystone
- Expanded materials library to 16 materials, enabling groundbreaking polymer solutions that immediately open new use cases and applications
- Launched large-format dental lab 3D printer, the NXD200, delivering the highest productivity, precision and performance for the dental market
- Developed and launched new xCure post-processing equipment and consumables
- Added a full range of supply chain-approved, powder fusion plastics to Nexa3D’s product line, effectively doubling the company’s current addressable market
- Commercialized its NexaX 2.0 Software Platform, delivering a comprehensive file-to-part software thread that extends the 20X productivity advantage of its ultrafast 3D printers
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 is becoming the leading pure play provider of ultrafast polymer 3D printers for the entire product lifecycle from prototyping to manufacturing. The company plans to participate in the 16th Annual Needham Virtual Technology & Media Conference where Avi Reichental, co-founder and CEO, will have a fireside chat with Needham’s Jim Ricchiuti, on May 17, 2021 at 2:15 ET. There will be additional one-on-one meetings for institutional investors.
“Industrial manufacturing technologies need refreshing; supply chains are extremely complex and fragile,” shared Avi 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.”
In connection with the financing round, Needham & Company, LLC served as Nexa3D’s financial advisor, and Orrick Herrington & Sutcliffe LLP served as Nexa3D’s legal advisor.
For more such updates and perspectives around Digital Innovation, IoT, Data Infrastructure, AI & Cybsercurity, go to AI-Techpark.com.
