Chromatic 3D Materials, an AM solutions provider, has raised $3.1 million in an oversubscribed pre-financing round. The company started its journey with the development and commercialization of materials and gradually expands to develop 3D printers, and manufacturing services for rubber parts.
More than half of the funds came from new investors. The funds will enable the company to further develop its technology, scale production, grow its sales and technology teams, and advance applications-related research and development with its partners in the transportation and defense industries, a press communication says.
“The success of our pre-financing round shows intense confidence in our business even amid a tough investment climate. We are pleased to see such a positive response from investors who share our vision of transforming manufacturing and supply chains with our adaptable printing system and industrial-grade materials,” said Cora Leibig, founder & CEO.
to make this expansion a reality, the company has strong goals: growing its organization by about 35% in the coming months. The company is actively recruiting software developers and additive manufacturing engineers in the US and Germany. It is also building up its sales teams.
Chromatic is in the early revenue stage and is preparing for a priced round later this year.
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