Carbon, a renowned U.S. based tech giant, has apparently closed its first phase of Series D funding round this Thursday. Reportedly, the company is planning to raise almost USD 200 million in the initial round from Sequoia Capital, Baillie Gifford, Fidelity Management & Research Company, GE Ventures, and Adidas VC arm Hydra Ventures amongst other investors, in a bid to penetrate 3D printing materials market.
For the uninitiated, since its inception that dates back in 2013, this Redwood city unicorn claims itself to be working at the intersection of software, hardware and molecular science to bring advanced digital 3D printing to additive manufacturing. Currently, one of the company’s spokespersons was quoted saying that the ultra-high speed of 3D printing techniques would enable manufacturers to deliver mass customization and tailor-made inventory, which presently is difficult to offer with the existing manufacturing techniques. Allegedly, Carbon’s big shots are highly optimistic about the new venture, claiming it to be disruptive for the entire 3D printing materials market.
For the record, the American tech juggernaut is fetching much of an attention in the 3D printing materials industry since for a while now. Prior to this, the company made it to the headlines with its launch of Futurecraft 4D shoe, which sports an absolutely innovative Carbon technology based 3D-printed sole. As per recent reports making rounds, Adidas is planning to mass produce this state-of-the-art technology by next year.
Reports cite that the company, sometime earlier, had raised funds of USD 220 million from renowned biggies including the likes of Google Ventures, Nikon, and BMW. With the latest injection of cash, Carbon, apparently, is extending its technology across manufacturing. While 3D printing technology has already made profound inroads across varied domains, it is yet to hold a grip in the manufacturing sphere.
Insider sources reveal that with a strong portfolio of an incredible group of global financial investors, Carbon’s latest initiative toward advancing the 3D manufacturing movement, might, in all likeliness, validate its position in the lucrative business space.