Chromatic 3D Materials raises $3.1 million
To expand commercialization and build software, engineering, and sales teams
Chromatic 3D Materials, an additive manufacturing technology provider, has raised $3.1 million in an oversubscribed pre-financing round – with more than half of the funds coming from new investors. The funds will enable the company to further develop its technology, scale production, grow its sales and technology teams, and advance applications-related research and development with its partners in the transportation and defense industries.
“The success of our pre-financing round shows intense confidence in our business even amid a tough investment climate. We are pleased to see such a positive response from investors who share our vision of transforming manufacturing and supply chains with our adaptable printing system and industrial-grade materials,” said Cora Leibig, Founder and CEO of Chromatic 3D Materials.
To accelerate and expand commercialization, Chromatic is expected to grow its organization by about 35% in the coming months. The company is actively recruiting software developers and additive manufacturing engineers in the US and Germany, and is also building up its sales teams.
The company is in the early revenue stage and is preparing for a priced round later this year.
