Impossible Objects, the specialist of CBAM process- Composite Based Additive Manufacturing -, raises $6.4 million in series A funding from leading investors.
OCA Ventures, IDEA Fund Partners Mason Avenue Investments, Huizenga Capital Management, and Inflection Equity Partners are the investors who saw a potential in the company’s technology. The technology company then reaches a total of more than $9 million with this latest round.
The reason behind this investment
Model One, the company first 3D printer is the reason behind such an investment. The 3D printer incorporates CBAM. Furthermore, carbon, kevlar (thermoplastic polymer) and fiber glass can be perceived in its prints.
The pilot program which has been successful until here, continues for Model One, leveraging Impossible Objects’ unique Composite-Based Additive Manufacturing Method.
Another good news is that, Jabil, the leading supplier of electronics is now part of the adventure by being Impossible Objects’ first customer.
“We’ve seen incredible momentum as more corporations are looking to additive manufacturing for production purposes and not just prototypes or low volumes. These companies need strong parts that can be made fast,” says Robert Swartz, founder and Chairman of Impossible Objects. “We’re delighted to work with our investment partners to meet this massive opportunity.”
“Impossible Objects is leading the way by using its technology to transform how the largest corporations manufacture,” said OCA Ventures General Partner Ian Drury. “The market opportunity for a revolutionary industrial additive manufacturing solution such as Impossible Objects’ CBAM is enormous and the company has huge momentum right now.”
Pilot versions of the printer are already available now. However, its commercialization will start in 2018.
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