This summer increasingly looks like a funding round-period in the 3D printing industry. Medical 3D Printing firm axial3D raises $3 Million to support US expansion. Other companies of the industry including Fortify and 3YOURMIND have also closed other funding rounds.
Axial3D is a medical 3D Printing firm that supplies its services exclusively to the healthcare sector. The company has already been able to demonstrate its expertise in different situations: the successful kidney transplant operation on a young mother or the use of its software platform to enhance patient care. In an interview, Daniel Crawford, founder and CEO told us that there was an opportunity to seize on the market, the one to bring automated 3D printing solutions so that surgeons can easily take advantage of them.
An opportunity to expand their activities on the US market
London-based Imprimatur Capital Fund Management, an international science and technology investor, and a U.S. investment consortium consisting of a number of surgical angel investors led the funding round.
In the company’s plans? The opening of an office in the region, following recent customer wins and the confirmed interest of other healthcare institutions in axial3D’s services.
A big focus will remain on expanding the company’s machine learning team, which builds groundbreaking automated algorithms that make access to medical 3D printing easier than ever for hospitals.
Daniel Crawford, CEO at axial3D, said, “The closure of this investment round marks an important milestone for our company. It will accelerate our growth within our expanding markets and enable us to bring our 3D printing solution to more healthcare organizations, helping them to drive down costs, improve compliance and, ultimately, enhance patient care.”
He continued, “Continuous innovation is crucial to bring the best solutions to market and keep up with customer demand. Following our recent collaborations with Tallahassee Memorial Healthcare and University Hospital Basel, we will focus further on the North American and European markets. This includes opening an office in the USA and recruiting more talent into our team, particularly to grow our machine learning capability. This will enable us to continue to innovate and find new ways to bring 3D printing on-demand to the entire healthcare sector.”
The global 3D printing medical devices market is projected to see a compounding annual growth rate of 23%, largely due to the increasing adoption of 3D printing technology within the medical sector. Today, we can definitely affirm that axial3D is certainly part of the players that will enable this transformation.
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