BigRep’s latest funding round has reached “Double Digit” millions
The German start-up, BigRep, which specializes in large-format 3D printers, has announced that their latest funding round has reached the “Double digit” millions. Helping to reach the double digit amount is the family owned company, Koehler, the venture capital company Newten Ventures, the KFW Banking Group, and the venture capital supplier B to V, totaling around €7 million from all investors. In addition, Körber AG has also announced their investment in the start-up, with great hopes for a future in additive manufacturing.
Founded in 2014, BigRep’s international team has been consistently working on the future of additive production, producing one of the world’s largest available 3D printers, the BigRep ONE, which is able to print furniture, specific vehicle parts and even parts for robots. Körber AG, on the other hand, is a Hamburg based international technology group that has around 11,500 employees and is involved in various fields, such as machining tools, automation, pharmaceuticals, and enterprise equity. As reported by the group in a press release from last Friday, they believe that their involvement will highlight the great potential of additive manufacturing in the industry.
The announcement on August 4th of the two company’s partnership has been followed by growing plans from Körber for BigRep. Although BigRep has already gained worldwide recognition for their printers, the start-up will now be able to increase their “global footprint and sales” as Körber is expected to support BigRep financially as well as with their industrial machine building.
“Since its founding in 2014, BigRep has developed into a competitive, steadily growing company with more than 70 employees and offices in the US and Asia,” said Michael Horn, a member of Körber AG’s Board of Management. In addition to the growing plans by BigRep, Körber has plans of their own for the start-up, beginning with a joint venture called ‘Foundation of Rapid Product Development’, which they are hoping will allow them to explore more additive manufacturing possibilities that will enable them to introduce their new competencies into their business areas to “Further customer applications development.”
In all, it seems that these two German companies have big plans in the making for the additive manufacturing world and thanks to the recent funding and partnership, their goals and expectations may just become a reality.
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