Nexa3D has announced the closing of a $55 million funding round which will allow the company to enhance its manufacturing operations to meet increasing demand.
The round, which was led by a multi-billion-dollar alternative asset manager and existing investors, OurCrowd and Saudi Aramco Energy Ventures, will also facilitate the growth of its global reseller channel, the expansion of customer success and customer acquisition operations, and the launch of several new products. Among the new products Nexa3D plans to bring to market are ‘several ground-breaking’ polymer 3D printers, a ‘new class’ of polymer materials, and the further development and deployment of its proprietary software platform.
Currently, Nexa3D offers the resin-based NXE400 and NXD200 3D printing systems, as well as the Quantum Laser Sintering portfolio acquired through the takeover of NXT Factory last year. Its product range also includes more than a dozen materials, backed by an open materials model featuring partnerships with BASF, Henkel, Covestro and Keystone; the xCure post-processing system; and the NexaX 2.0 file-to-part software.
The company came through the XponentialWorks umbrella, set-up by Nexa3D CEO and co-founder Avi Reichental, and is working to establish itself as one of the leading providers of stereolithography 3D printing technology. This $55m investment, Nexa3D believes, will help to accelerate that ambition.
“This financing puts us in a strong leadership position to accelerate the transition of additively manufactured polymers from prototyping to production at scale,” commented Reichental. “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.”
“We are delighted to increase our investment in Nexa3D, the leader in ultrafast polymer 3D printers,” added OurCrowd CEO Jon Medved. “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 customers and partners.”
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