Nov 11, 2015 | By Kira
Berlin-based tech startup BigRep today announced that it has closed a Series A financing round with over €7 million, with new shareholders Koehler Paper Group and b-t-v joining KFW-Bankengruppe to make BigRep one of the fastest growing hardware startups in all of Germany. Known for producing its large-scale FFF 3D printer, the BigRep One, the company has said that they will use the capital to further product research and development, expand their global market presence, and internationalize and strengthen distribution.
The BigRep One 3D printer, now available in its third generation, boasts a build volume of 1m³, allowing for prints up to 27 times the size of a large-volume desktop 3D printer at one sixteenth of the cost of comparable full-scale machines. According to the company, their goal was to provide the maker community with access to full scale 3D printing for a much lower price, bridging the gap between 3D printers designed for modeling and those designed for industrial use. Though the price for the latest iteration of the BigRep One is quoted individually, we previously reported that the first generation was available for $39,000, while the BigRep One.2 had a suggested retail price of $44,700.
Founded in 2014, BigRep became the market and technological leader for large-scale serial 3D printing within just 18 months, and just last month they received the German Design Award Gold 2016 by the German Design Council, showing that the company displays a very high level of promise for their unique product designs within their home country. Given that competition is relatively small in the segment for large-scale serial 3D printing, particularly cost-efficient solutions, with this latest round of financing, it is very likely that BigRep will be pushing beyond national borders and to make it on the global scene.
As for its newest investors, the Koehler Paper Group is an independent enterprise in the German industry, family run for over eight generations. Though they core specialization is in the production of high-quality fine paper, technical paper, and recycling paper, the company has also been known to invest in renewable energies, and now has an eye for innovative technology startups. “We have thoroughly studied the market for 3D printing and are positive that BigRep is one of the best positioned providers in the rapidly growing segment for industrial clients,” said CEO Kai Furler.
BigRep Managing Directors René Gurka (top) and Stephan Beyer (bottom)
Venture capital firm b-t-v also contributed to this latest Series A financing round, however they were previously involved in BigRep’s seed funding as a Business Angel. “We are thrilled to have found further investors with Koehler and b-to-v who appreciate the capacities of our large-scale serial 3D printing solutions and share our vision: as the 21st century’s key industry, 3D printing will substantially change global supply chains and production processes,” said BigRep CEO René Gurka.
Dr. Christian Reitberger, lead investor at b-t-v added: “BigRep’s aim is to reduce the entry barriers for industrial 3D printing through lower operating costs, establishing a coherent software environment, and smart filament material innovations. BigRep will access new customer groups for additive manufacturing and provide industry insiders with a wider applicability in everyday use, too.“
Posted in 3D Printers
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