3YOURMIND raises $12M to expand its industrial 3D printing software business
3YOURMIND closed a $12M Series A round, as is now focusing on building a strong US Market Entry with East Coast Expansion. As a first step the company opened its new East Coast office in New York City, NY.
The funds raised will be used to further expand into the US market, following the company’s successful market entry which resulted in the addition of major aerospace and engineering customers, including GKN, to its client roster. Money will also be earmarked to drive initial entry into the Asian market as well as the development of further, innovative software tools for industrial 3D printing. The market is forecasted to grow rapidly, with analysts at ARK Invest predicting it will reach $41B by 2020.
“The strong demand we are seeing from large, established businesses for our industrial 3D printing solutions confirms this is the future of high-tech manufacturing in the U.S. and globally,” says Aleksander Ciszek, 3YOURMIND’s CEO. “We are committed to shaping the production processes of digitized factories, and are delighted to have four outstanding strategic partners investing in our vision, including EOS and TRUMPF which are global leaders in the industrial 3D printing market.”
Industrial 3D Printing Software
3YOURMIND has developed intelligent software solutions for industrial 3D printing that enable capabilities such as real-time printability analysis and the automatic optimization of 3D models. Its tailored solutions include:
– For enterprises, the company delivers a platform that identifies which parts are the best candidates for industrial 3D printing, and then streamlines the workflow process, enabling efficient production capacity planning across internal and external suppliers.
– For 3D printing service providers, the company offers a technology that enables secure and error-free access to their industrial 3D printers around the clock.
“3YOURMIND provides a missing link in the growth and development of industrial 3D printing,” says Markus Josten, Global Sales Director Disruptive Technologies & Markets at GKN. “The platform enables customers to dramatically decrease the cost and complexity of using 3D printing, and thus makes it much more accessible.”
3YOURMIND’s customers include Siemens, Continental and other global technology leaders from the automotive, aerospace and engineering sectors as well as medium-sized companies and 3D printing service providers. In 2016, the company was awarded the “German Innovation Prize” and entered the elite StartX Accelerator network in Silicon Valley in 2017.
“3YOURMIND solves an important problem in the area-wide application of 3D printing,” says Johannes von Borries, Managing Partner of lead investor UVC Partners. “3D printing has become established as a manufacturing alternative, but now it’s essential to integrate this technology efficiently into the workflow between the designer and the manufacturing process. 3YOURMIND makes that connection work.”
The Series A funding brings together a strong combination of well established financial investors and strategic industry partners. The round is led by Unternehmertum Venture Capital Partners (UVC Partners), an experienced investor in B2B SaaS and industrial technologies, and is joined by fellow VCcoparion.
“TRUMPF is a leading provider of 3D printers and was one of the first companies to leverage this technology. We are not only developing our own products but are also investing in and supporting promising start-ups with our venture capital activities. The investment in 3YOURMIND underscores our conviction that digital networking is essential to the development of the industry,” says Franz Lehmann, Investment Manager of TRUMPF Venture, which is investing in early-phase high-tech start-ups
Strategic industry investors are TRUMPF Venture, the investment arm of one of the world’s leading machine tool builders and specialist for 3D printing systems and AM Ventures (AMV), sister company of EOS, the world’s leading technology provider for industrial 3D printing of metals and polymers.
“3YOURMIND has developed very positively since we were a lead investor in their first financing round in 2015. Very quickly, they have grown into one of the leading providers of intelligent software solutions for 3D printing. Being part of the Series A financing to support the expansion into the U.S. and Asia was an easy decision,” says Johann Oberhofer, Executive Vice President of AMV.
