Apis Cor raises $6M to build “several dozen” 3D Printers
Apis Cor, the first company to develop a mobile construction 3D Printer, just raised $6 million in investment from the Rusnano Sistema Sicar venture fund. Apis Cor demonstrates it could 3D Print an entire house in 24 hours. Since then, the company draws attention on the global interest of 3D Printing in construction.
About the investment
This excitement generated around the use of 3D printing in construction has also reached Rusnano Sistema Sicar venture fund, a private equity fund.
Established by big tech firms Sistema and RUSNANO, the equity fund gave a contribution of $6 million into the Russian startup.
Notice is to be made that this amount is also the first ever investment since the inception of the jointly venture in 2016.
This is not only a generous contribution to Apis Cor but also a real means to develop and enhance its house-building additive manufacturing systems.
“We are pleased that Apis Cor has become our fund’s first investment,” commented Sergey Vakhterov, Managing Director of RUSNANO MC. “The company is a pioneer in the 3D printing industry and its technology has no peers on the global stage.”
“3D printing has enormous potential for the construction industry, with a projected share of up to 30 per cent of the global low-rise cottages market, which is valued at $68 billion,” said Sergey Dergach, CEO of Sistema Consult, a company advising the venture fund.
For the end of 2018, Apis Cor’s goal is to realize “several dozen” of its 3D Printer, taking into account that the revenue would certainly reach tens of millions of dollars.
“Apis Cor’s solution makes the construction process cheaper and drastically changes the entire industry,” Vakhterov added.
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