3D Printing Startup, Fortify Raises $20 Million in Series B Funding
Boston-based 3D printing startup, Fortify, also known as Fortify 3D, has just obtained $20 million in a round of series B funding. While the equity round was led by Cota Capital, there were also several other notable participants including Neotribe Ventures, Prelude Ventures and Accel Partners. This funding adds to the $10 million that the company raised as part of its series A funding in 2019, to which Neotribe Ventures, Prelude Ventures and Accel Partners also contributed.
Founded in 2016, the startup launched its patented Digital Composite Manufacturing (DCM) platform in March 2020, shortly before it began shipping its Flux One 3D Printer. The platform allows users access to new levels of performance for their 3D printed parts through the introduction of functional additives to photopolymers. Through this platform, Fortify produces custom microstructures in high-resolution 3D printed parts using technology predicated on an in depth understanding of material science, including high performance mixing, magnetics, and polymer physics.
Fortify recently began shipping its 3D printer, the Flux One, to customers. (Photo Credits: Fortify)
“Fortify has been focused on proving the viability of our product and market opportunity over the past 18+ months, and exceeded our goals set at the beginning of 2020.” comments Joshua Martin, the CEO and a Cofounder of Fortify. He continues, “this next round will expand our go-to-market footprint in key verticals such as injection mold tooling while enabling us to capture market share in end-use electronic devices.”
Fortify also intends to direct this funding towards team growth, accelerating the expansion of high value application spaces, as well as transition to volume manufacturing of the Flux Series 3D printers, which the company began shipping in September of last year. The Flux One 3D Printer is well-suited to 3D printed mold tools for prototyping as well as low volume and high-performance applications. It relies on Continuous Kinetic Mixing (CKM) technology and features proprietary Fluxprint magnetic alignment, which functions to optimize microstructures in parts, thus enhancing strength, stiffness, wear and HDT. If you would like to find out more information, you can read the full press release here.
A diagram of Fortify’s proprietary Continuous Kinetic Mixing (CKM) technology. (Photo Credit: Fortify)
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