Dutch 3D printing company MX3D has secured €7 million in Series A funding to support its international expansion. The round was led by EDF Pulse Ventures, with participation from ING Sustainable Investments and existing investor PDENH. MX3D specializes in Wire Arc Additive Manufacturing (WAAM) technology, which offers an alternative to traditional casting and forging methods for metal parts.
The Amsterdam-based company plans to use the funding to accelerate global deployment of its 3D printing systems and expand its Print-on-Demand services. MX3D is also enlarging its Amsterdam facility with a new production hall that will house six additional systems capable of printing up to 20 tonnes of metal parts. This expansion will bring the company’s total system count to 15.
MX3D’s WAAM technology reportedly reduces material waste by more than 80 percent compared to traditional manufacturing methods. The company’s flagship product, the M1 Metal AM System, allows businesses to bring production of large and complex metal parts in-house. MX3D currently serves clients in the energy, maritime, and aerospace sectors.
“We’re thrilled to have the support of such a strong consortium of investors as we enter this next growth phase,” says Gijs van der Velden, CEO of MX3D. “This investment will enable us to scale up our operations, further develop our technology, and bring the benefits of robotic metal 3D printing to even more industries worldwide.”
As part of the investment, Michel Hunsicker from EDF Pulse Ventures and Tibor van Melsem Kocsis representing PDENH will join MX3D’s Board of Directors. The company has also formed a strategic partnership with Phillips Corporation to increase adoption among US federal clients.
MX3D’s current client portfolio includes organizations such as the BMW Group, Framatome, and the US Army. The company’s technology has applications in various sectors including nuclear, oil and gas, and maritime industries, where it helps reduce manufacturing lead times and costs.
Source: siliconcanals.com