Axtra3D secures $6.25m in series A led by HZG Group, will leverage the funding to accelerate the market entry of its Lumia 3D Printer

Axtra3D, a developer and producer of the Lumia 3D printer based in Charlotte (NC, USA) and Vicenza (Italy), has closed USD 6,25 million in Series A led by AM Venture Firm HZG Group. The financing round follows the recent investment the VC firm HZG Group made in trinckle.

While the VC firm HZG Group officially made it a top priority to support AM companies of the DACH region, this investment could be a sign that Kerstin and Frank Carsten Herzog, the founders of HZG Group, could go beyond this initial principle to focus on technologies with real potential, no matter where the company is based in. Steve Grundahl, founder and president of Midwest Prototyping and current VP of Additive Manufacturing for Prototek, participated in the round as a strategic partner.

Axtra3D collaborated with on-demand manufacturing platform Xometry to create a 3D printer based on a patented Hybrid PhotoSynthesis (HPS) technology – in just 9 months. Named Lumia X1, the 3D printer would combine the benefits of SLA, DLP, and LCD.

“This financing round is the next big step for us. Since our founding, we have developed and manufactured a groundbreaking product for additive manufacturing in just nine months, which will now be made available to customers on a larger scale. With the HZG Group of Kerstin and Frank Carsten Herzog, we have a financially strong investor on our side, who also bring in their proven expertise in establishing completely new processes in the industry”, founder and CEO Gianni Zitelli said.

With the new capital, Axtra3D wants to build processes and supply chains for the upcoming market entry as well as attract new talent to its offices in Italy and the US.

In intensive application tests with strategic partners, the Lumia X1 3D printer will be tested for every possible application in the coming months. The findings will flow into product optimization before the broad market launch.

According to Frank Carsten Herzog, founder and managing director of HZG Group, “Axtra3D’s technical developments are absolutely impressive. Gianni Zitelli’s team is setting the right priorities to optimally master the steep road to breakthrough. And we look forward to actively supporting them in all the steps ahead.”

Axtra3D sees great potential for the Lumia X1 printer in the aerospace, consumer goods, medical and dental care, and automotive industries. Praveen Tummala, co-founder and COO of Axtra3D, gives an example: “High costs are saved in surface finishing. The high resolution and surface quality of HPS technology simply eliminates the need for another production step.”

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