3D metal printing company MatterFab has raised approximately $5.8m in a series A round featuring General Electric's corporate venturing unit.
US-based metal 3D printer manufacturer MatterFab closed a $5.75m series A round yesterday that included GE Ventures, industrial conglomerate General Electric’s corporate venturing unit.
The round also featured Innovate Indiana Fund, an early-stage fund that backs startups with a connection to Indiana University. The funding will support the design and development of what MatterFab claims will be the first affordable, scalable 3D metal printer.
Steven Taub, Sr., director of advanced manufacturing investments for GE Ventures, said: “GE Ventures is reimagining manufacturing and what is possible on the factory floor, and we see great potential in MatterFab’s offerings and industrial applications.
“MatterFab’s open platform gives its printing system the flexibility that GE and other industrial leaders need to use additive manufacturing to make a wide variety of functional metal parts for our customers.”
MatterFab had raised $7.9m in debt and equity as of February this year, according to regulatory filings. Its previous investors include Lemnos Labs and, reportedly, Kima Ventures.
This article first published at Global Corporate Venturing.
