Barcelona-based 3D printer manufacturer BCN3D Technologies has become an independent company after raising $3-million in seed funding, it announced in a press release.
Venture capital firms Accurafy4, JME VC and Victoria invested in BCN3D, making it one of the top 10 desktop 3D printing manufacturers in Europe by funding.
“With this funding, we will be able to ramp-up our production to meet the market demand and cut down the long delivery periods we have experienced in the past due to production limitations,” said BCN3D’s CEO Xavier Martínez Faneca.
The company was originally created as a division of a non-profit foundation called Fundacio-CIM, which is affiliated with the Polytechnic University of Catalonia.
It is perhaps best known for creating the disruptive independent dual extruder system (IDEX). This unique approach to multi-material 3D printing that enables the two extruder heads to act (and print) independently.
In fact, its original BCN3D Sigma 3D printer was one of the first to make dual extrusion 3D printing more accessible to the masses. Since then, it’s produced the more printers, including the Sigma R19 and Sigmax R19.
It already counts BMW, Samsung, Louis Vuitton, Nissan and NASA among its clients.
Investors Positive About BCN3D’s Continued Success
The new company is founded by Faneca, the CEO and will also be led by BCN3D’s executive team.
“We are working on a new range of products to improve the experience of our clients and take the IDEX to a completely new level,” said Faneca.
BCN3D is now one of the largest spinoffs from an engineering university in Europe, an exciting fact for investors.
“They have a breakthrough technology — IDEX — that only the best spinoffs have, plus a degree of commercial traction that most spinoffs need years to accomplish and that they’ve already got before day 1,” said Abel Conill, a general partner at Victoria Venture Capital.
“We are thrilled to be part of the company and are fully committed to helping the team accomplish their future goals.”
And for the university where BCN3D began in 2012, the change is a source of pride.
“Technology transfer is, along with research and training, our greatest commitment related to the challenges of Industry 4.0 and Additive Manufacturing,” said Universitat Politècnica de Catalunya rector Francesc Torres.
“The project of BCN3D has been developed within our technological center CIM-UPC and it’s an example of how knowledge can generate value and have a social impact. We are very proud of this new step for BCN3D and we will support their growth from the university.”
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