Zeda closes US$52 million series B financing round
The funding will primarily be used for medical product expansion in the US and Asia
Zeda, Inc. (previously PrinterPrezz/Vertex Manufacturing), a leader in advanced 3D manufacturing and nanotech solutions for the medical, space, aerospace, and defense industries, has closed a $52 million equity and debt financing for a total capital raise of $68 million, to date.
The Series B round included the participation of multiple new institutional and strategic investors, including Michelin, Taiyo Nippon Sanso Corporation (a Mitsubishi Chemical Group company), and Fives Group. It was jointly led by existing investors – Boutique Venture Partners, Berkeley Catalyst Fund, DOV Management, and Solvay Ventures.
The company will primarily use the proceeds to fund its new advanced manufacturing digital foundry in Cincinnati, Ohio, as well as expand its facilities – globally – to address the growth in demand for metal 3D printing in medical, space, aerospace, defense, and energy applications, as well as expansion into the Asian market for its medical implant applications. This follows last year’s announcement of an agreement with the Singapore Healthcare Clusters and the National Additive Manufacturing Innovation Cluster (NAMIC) to grow the 3D printed implant market in the region.
“Zeda is seeing exponential growth in our served markets, driven by our regulated-industry partners and products, due to the global environment and localizing of supply chains. We are delighted to have closed a substantial round, particularly with the current economic headwinds. This further validates our vision for the company and the capabilities of our exceptional team to execute against our business plan,” said Shri Shetty, CEO of Zeda.
“We’re delighted to continue to support Zeda in their Series B round. What impresses me most about the company is its ability to provide a complete solution for medical devices from concept to production – dramatically speeding innovation,” said Dr. Rami El Assal, Managing General Partner and Co-founder of Boutique Venture Partners, which specializes in early-stage investments in life sciences and healthcare.
“As this funding round shows, there is a market even in tough times for industry leaders like Zeda. Few challenges are as complex as revitalizing localized manufacturing and securing critical supply chains. We’re pleased to invest in Zeda as we believe, leveraging advanced manufacturing and technology, it’s best positioned to deliver reliable, high-quality products across multiple regulated industries and applications,” said David You, Founder and CEO of DOV Management.
“We are very excited to be a partner of Zeda and are impressed with Zeda’s quality control system for printed implants. We also believe that TNSC’s technologies, including purity control of printing atmosphere and surface modification of printed parts, will further enhance Zeda’s process,” said Mr. Kobayashi, Head of the Corporate Office of Innovation at Taiyo Nippon Sanso Corporation (a Mitsubishi Chemical Group company).