Renowned 3D printer manufacturer BCN3D have announced that they are spinning off from their parent company after a highly successful fundraising run. The company has successfully gained $3 Million with the aid of a number of high profile clients. Previously, the company was a part of the CIM-UPC Center but is now spinning-off from their parent company.
BNC3D had so far been operating as a university group but are now striking out on their own. During this time they made waves within the industry with their printers and the IDEX technology. This spin-off comes on the heels of the company having sold over 5,000 printers, partnering with major firms including BMW, Samsung, Louis Vuitton, Nissan, NASA, HTC, SEAT and ALBA Synchrotron.
The company raised $3M in seed funding with the aid VC firms Accurafy4, JME VC and Victoria. “With this funding, we will be able to ramp-up our production to meet the market demand and cut down the long delivery periods we have experienced in the past due to production limitations,” François Minec, Lead Investor at Accurafy4.
Boosting Leadership in IDEX Technology
“We are working on a new range of products to improve the experience of our clients and take the IDEX to a completely new level,” stated BCN3D’s CEO Xavier Martínez Faneca. The company is focusing on boosting their leadership in the IDEX market, taking this funding to boost production.
The CIM-UPC Center is one of the most advanced additive manufacturing centres in Southern Europe. It has been a proving ground for many concepts and companies, but BCN3D has exceeded even those high thresholds. Their work with IDEX systems revolutionised the industry and serves as a main draw for many of their new partners.
“BCN3D is one of the largest spin-off from an engineering university we have seen in Spain and one of the largest in Europe. They have a breakthrough technology -IDEX- that only the best spin-offs have, plus a degree of commercial traction that most spin-offs need years to accomplish and that they’ve already got before day 1. We are thrilled to be part of the company and are fully committed to helping the team accomplish their future goals,” states Abel Conill, General Partner at VICTORIA Venture Capital.
Featured image courtesy of BCN3D.
