Fortify raises a $20M Series B for its composite manufacturing 3D printer
Recent months have likewise found the company enlisting other 3D printing vets. Paul Dresens (ex Desktop Metal) signed on as VP of Engineering, while former GrabCad (a Stratasys acquisition) market exec Rob Stevens has signed on as a consultant.
Fortify is attempting to stake out a claim in material deposits. Using digital light processing (DLP) tech, the business can print and mix in a range of different materials, with a large range of residential or commercial properties. The list includes some helpful traits, including electromagnetic and thermal.
Desktop Metal, Markforged and new-comer Mantel have all made pretty huge announcements in current weeks, and now Fortify is making the round with a considerable raise. The Boston-based start-up announced a $20 million Series B equity round, led by Cota Capital with extra participation from Accel Partners, Neotribe Ventures and Prelude Ventures.
Like Mantel, the company looks to be targeting manufacturing tools, consisting of injection molding.
There’s been quite a bit of motion in the additive manufacturing space in current months. If I had to determine a reason, I would say that– much like robotics (another space I follow fairly closely)– the category has gotten a boost in interest from the pandemic. Medical applications are understandably of interest recently, as is alternative manufacturing.
“Fortify has actually been focused on showing the practicality of our product and market chance over the past 18+ months, and exceeded our objectives set at the start of 2020,” CEO Josh Martin stated in a release. “This next round will broaden our go-to-market footprint in essential verticals such as injection mold tooling while enabling us to capture market share in end-use electronic gadgets.”