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There has been quite a bit of movement in the additive manufacturing space in recent months. If I had to point out a reason, I would say that, like robotics (another space that I follow quite closely), the category has received a boost in pandemic interest. Medical applications are understandably of interest lately, as is alternative manufacturing.
Desktop Metal, Markforged, and newcomer Mantel have made pretty big announcements in recent weeks, and now Fortify is making the round with a significant increase. The Boston-based startup announced a $ 20 million Series B share round, led by Cota Capital with additional participation from Accel Partners, Neotribe Ventures and Prelude Ventures.
Fortify is attempting to restate a claim on material deposits. Using digital light processing (DLP) technology, the company can mix and print on a variety of different materials, with a wide range of properties. The list includes some useful traits, including electromagnetic and thermal.
Like Mantel, the company appears to be targeting manufacturing tools, including injection molding.
“Fortify has been focused on demonstrating the viability of our product and market opportunity for the past 18 months, and exceeded our targets set in early 2020,” CEO Josh Martin said in a statement. “This next round will expand our market presence in key verticals such as injection molding tools and, at the same time, allow us to capture market share in end-use electronic devices.”
In recent months, the company has also hired other 3D printing experts. Paul Dresens (former Desktop Metal) signed on as VP of Engineering, while former Market Executive for GrabCad (a Stratasys acquisition) Rob Stevens joined as advisor.
