Aug 18, 2016 | By Benedict

Boston-based 3D printing startup New Valence Robotics (NVBOTS) has announced Series A financing, led by Woodman Asset Management, that will serve to increase sales of its NVPro 3D printers. Duncan McCallum has become the company’s new CEO, with founder AJ Perez becoming Chairman.

NVBOTS' NVPro 3D printer

Founded by a team of MIT engineers, Boston-based NVBOTS provides 3D printing solutions in both metals and plastics, and last year unveiled its NVPro 3D printer, the only machine in the industry with an automated part removal system. Now, after a boardroom reshuffle and Series A financing round, the company will be able to take the next step in marketing its NVPro 3D printers and developing a new range of multi-material 3D metal printers. Earlier this year, the company announced that it was developing a high-speed 3D printer capable of printing in 21 different metals.

Following the Series A financing round, Duncan McCallum, an experienced CEO who has worked with several startups, will become NVBOT’s new CEO, with founder AJ Perez moving up to the position of Chairman. McCallum previously co-founded, built, and sold companies Cilk Arts and VeloBit, and also has experience as a venture capitalist with Bessemer Venture Partners. “I am fortunate to help lead the next phase of growth at NVBOTS,” McCallum said. “I’ve seen few opportunities that are as large and compelling.”

New NVBOTS CEO Duncan McCallum

NVBOTS’ NVPro 3D plastics printer is currently used by more than 50 organizations, including Hypertherm and Staples. The machine uses NVBOTS’ “Built to Share” technology, can be accessed and controlled remotely, and is optimized for shared-use scenarios. Its most remarkable feature is its automatic part removal system, which removes finished prints from the print bed and places them to one side so that the next job in the print queue can commence. The company initially targeted the 3D printer—and this feature in particular—at clients in the education sector, but has since broadened its target customer base.

The forthcoming multi-material 3D printing solutions being developed by NVBOTS will leverage the NVPro platform with a proprietary Metal Additive Deposition (MAD) process, which uses ordinary metal wire instead of specialist powders. According to the company, this new technology will deliver “higher speed, lower cost, and lower power consumption” than other metal 3D printing systems.

Developing the forthcoming multi-material NVBOTS printer

Woodman Asset Management, a Swiss asset management firm, has not disclosed the financial details of the Series A round, though NVBOTS did raise $2 million in seed funding in 2015. “We are pleased to lead the NVBOTS financing,” said Dr. Alexander J. Bischoff, Head of Venture Capital at Woodman. “The market for cost-effective, fast, and automated 3D printers is well over $10 billion. NVBOTS, with its established NVPro plastics printing platform, high-speed metal printing technology, and exceptional team, is poised to lead this rapidly growing category.”



Posted in 3D Printer Company



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