The House Fund has made its second investment in additive manufacturing software developer Dyndrite as part of a round that raised more than $10m.
US-based additive manufacturing toolkit provider Dyndrite has secured more than $10m in a series A round featuring the University of California, Berkeley-affiliated House Fund.
The round was led by Gradient Ventures, internet technology provider Google’s artificial intelligence-focused corporate venturing fund, and also included venture capital firms Cota Capital and Amplify Ventures, as well as angel investor Carl Bass.
Founded in 2016, Dyndrite has created a software platform intended to enhance the capabilities of additive manufacturing tools such as 3D printers. The funding will support the beta release of its lead product as it looks to double the size of its team to 30 by the end of 2019.
The House Fund, Amplify Ventures and Bass were all identified as returning investors and Dyndrite was among the portfolio companies announced by Gradient when it officially launched in July 2017, but further details could not be ascertained.
Anna Patterson, managing partner at Gradient Ventures, said: “We are at a unique point in time where innovative manufacturing hardware has outpaced its software counterparts.
“Dyndrite is a new platform that takes into account modern computer architecture, modern design needs and modern manufacturing capabilities.”
– A version of this article first appeared on our sister site, Global Corporate Venturing.
