Apr 27, 2017 | By Tess

PostProcess Technologies, an automated 3D printing post-processing company based in Buffalo, New York, announced that it has raised a whopping $4 million through a seed funding round, $1 million of which was invested by New York Ventures, the venture capital investment branch of Empire State Development.

The funding from the seed round, which was raised by investors such as Rand Capital, Richmond Capital Partners, and various angel investors from around the world, will help PostProcess Technologies to advance and accelerate its post-processing technologies—which include proprietary software, hardware, and chemistry—and to grow its business on an international level.

PostProcess Technologies, which unveiled its large-scale DECI Rectangular surface finish machine earlier this month, is one of the leading companies for automated post-processing systems designed for finishing 3D printed parts at a high volume. As makers will know, finishing a 3D print can be a laborious process that requires removing support material, and often smoothing rough and layered surfaces using sanding or chemical processes.

And while completing these processes by hand is fine for a one-off print or a small batch, manually post-processing a large volume of prints can be incredibly time consuming and even result in damaged or inconsistent 3D printed parts. With its various finishing systems, PostProcess has provided businesses with a way to automatically and consistently post-process 3D prints in a way that saves time and even money. The company’s customers include blue-chip businesses in the aerospace, automotive, defense, consumer products, life sciences industries, and more.

"We continue to hear from our customers that the post-processing of parts is becoming the bottleneck in their additive operation as prototype volumes grow into the thousands per year and production volumes grow into the thousands per day. Our technology delivers unparalleled consistency, while showing a return on investment that is often less than six months," said Jeff Mize, Chief Executive Officer of PostProcess Technologies.

The $4 million in funding from investors, including a significant chunk of it from New York Ventures, will allow PostProcess Technologies to not only accelerate and continue to develop its surface finishing systems for 3D printed parts, but will enable it to expand its reach across the growing 3D printing industry, especially as more and more companies come to rely on additive manufacturing for prototypes and end-use parts.

From New York Ventures’ perspective, its $1 million investment in the Buffalo-based company is a way to encourage job growth and the tech-oriented economy in Upstate New York. As Howard Zemsky, ESD President, CEO, and Commissioner, explained, “Western New York is once again being recognized for innovative, emerging manufacturing technologies such as 3-D printing, and we look forward to Post Process' continued success as the Company seeks to establish itself as a leader in the industrial additive manufacturing industry."

 

 

Posted in 3D Printer Company

 

 

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