Aug 2, 2016 | By Alec
The future looks bright for 3D printing service provider 3D Hubs. The Amsterdam-based company, which has quickly become the largest marketplace for 3D printing, has just closed a hugely successful Series B investment round. In total, they have managed to raise a staggering $7 million during the round, which was led by new European VC fund EQT Ventures. The funds will be used, 3D Hubs revealed, to grow the 3D printing marketplace for their rapidly expanding professional user base.
It’s just the latest achievement by 3D Hubs. Founded back in 2013 in Amsterdam, they have since grown in size to reach 160 countries all across the globe and are providing what is arguably the most convenient marketplace for 3D printing services. They recently also surpassed the 40,000 3D prints per month mark – a 1,200% increase since the company’s series A funding round held in 2014. Their initial backers Balderton Capital are very impressed too. “It's rare to see a company that has such an immediate disruptive effect on both software companies and physical supply chains. 3D Hubs has already started changing the way designers and producers think and work.” said James Wise of Balderton Capital.
What’s more, professional users are also increasingly finding their way to 3D Hubs – especially for the development of prototypes and small production runs. Among their long list of clients you can find sixteen Fortune 100 companies, who are active in the automotive, aerospace, healthcare and other industries. In many ways, 3D Hubs is shaping on-demand manufacturing with their focus on local users and the way they make 3D printing so accessible.
It’s no wonder EQT Ventures were interested. This new VC fund is part of global private equity group EQT, and already has over €566 million in commitments to numerous partners. As part of this new deal with 3D Hubs, EQT Ventures’ Design Partner Ted Persson will join the 3D Hubs Board of Directors. “We’ve only seen the beginning of what 3D printing will offer, and 3D Hubs is by far the most well-positioned company we’ve encountered in this space. We are very impressed with what Bram, Brian and the rest of the team have managed to build in just under 3 years, so when EQT Ventures was invited to support their future journey we didn’t hesitate,” Persson said.
Of course this is not the first time 3D Hubs managed to raise millions. This new $7 million takes the total funds raised by 3D Hubs up to $11.5 million, with other investors including Spotify, Uber, Booking.com, Stichting DOEN, and Marcel Beemsterboer of Vakantieveilingen.
As 3D Hubs revealed, their new focus will be on their connected 3D printing service network that supports its professional user base. Specifically, they will be looking at making it easier for professionals to access local 3D printing services. “We were inspired by the profoundly positive impact that online marketplaces have had on many industries, and we wanted to establish that same marketplace for 3D printing,” said Bram de Zwart, CEO and cofounder of 3D Hubs. “Our team of investors has a deep understanding of online marketplace dynamics, and we’re thrilled to announce that EQT has joined us in our mission to decentralize manufacturing.”
Posted in 3D Printing Service
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