Jan 26, 2017 | By David
3D innovator Mcor Technologies is contributing again to the unstoppable growth of the 3D printing world as it expands its workforce from 50 to 150. The 3D printer manufacturer is creating 100 new jobs in order to further its long term vision for the future of the industry. It hopes to make full colour 3D printing with paper and ink more widely available and accessible to the burgeoning creative market that is making use of the technology.
The company, based in Dunleer, Ireland, was founded back in 2005 by brothers Conor and Fintan MacCormack. It is known in the industry for being the only manufacturer to use paper for its 3D printed models and prototypes, as opposed to plastic, powder or metal. In January 2016, it launched the Mcor ARKe, an event that it proclaimed as ‘a defining moment for 3D printing’. This fanfare was not without warrant as the Mcor ARKe was the first ever full colour desktop 3D printer to hit the market. Having sold 1000 printers so far, the company is aiming to compete with a close rival by making 2000 sales a month in the near future. It looks to be well on its way to meeting this target, with such huge names as Disney, Boeing, Toyota, and NASA all having placed orders for its products.
In order to increase its output, Mcor will be partnering with another manufacturing company, Flex, which has made products for Google and Fitbit amongst others. According to Conor MacCormack, this will allow the Mcor team to focus on the preliminary stages of its process. "It took two years to develop our latest Arke model, and a further year of work with Flex," he says. "They can do the manufacturing efficiently and reliably, while we focus on sales and inventing, design and R&D." These are the departments where the new hires will primarily be working. With this new arrangement in place, Mcor is targeting a growth rate of 50 percent each year.
As for the funding required to support this ambitious upscaling, the company will be targeting venture capital and strategic investment from the USA and Europe. It is already backed by Tipperary technology entrepreneur and investor John Ryan, and has recently received around 10 million euros from European VC firm Alpina Partners, which has also invested in Limerick-based technology company AMCS. Having raised 16 million so far, Mcor is now looking at raising a further 5 million to make sure the expansion will go as smoothly as possible.
Trebling its workforce is a bold move that is reflective of the confidence Mcor has in the 3D printing business and the new possibilities it sees on the horizon. We can’t wait to see their gamble pay off as the 3D printing market continues to grow.
Posted in 3D Printer Company
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