Software platform provider CASTOR has just announced a fund raising of $3.5 million led by Xerox, and Spring Ventures.
For those who do not know, Xerox is already an active player of the AM landscape. The machine manufacturer is currently commercializing its ElemX 3D liquid metal printer. Spring Ventures on the other hand, is a Tel Aviv based publicly traded company which has already invested in leading tech companies, such as Perimeter 81, Guesty, Gloat and others. Both companies took part in the seed+ round alongside existing investors such as Evonik Venture Capital, Mr. Jeremy Coller, TAU Ventures, and Chartered Group.
As a reminder, CASTOR’s platform, cloud-based or ‘on prem’, analyzes parts to identify which are a good fit for 3D printing, both technically and economically. “The platform suggests best-match materials and 3D printing technology, carries out geometric analyses, identifies redesign opportunities, compares the cost of additive printing to traditional manufacturing, and simulates the likelihood of failure”, the company says in a press communication.
As explained by Omer Blaier, cofounder and CEO in a conversation with 3D ADEPT Media, the company has been developing three software products to help industries unlock the benefits of industrial 3D printing. The most advance product is the ‘white label’ version of CASTOR which has already been implemented by Evonik and Nexa3D. As a result of using CASTOR’s platform, these 3D printing OEMs enhanced their AM business with a tailor-made platform. The ‘white label’ version can be used to boost sales and generate leads or to increase the usage of printing, materials, services and parts ordering.
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