3D printing startup raises $20 million
The company is working on inclusions, such as magnetic materials, within 3D printing to tailor properties, specfically the mixing of functional additives with photopolymers.
Fortify has drawn down a $2.5 million seed funding round, plus a Series A round of $10 million and so the Series B brings the total raised to $32.5 million.
The Series B was led by Cota Capital and the money will be used to scale up manufacturing, the team, and materials development programs, the company said. The company plans to begin volume manufacturing of the Flux Series 3D printers.
Fortify combines proprietary systems for mixing and magnetic alignment with digital light processing (DLP) to produce composite parts with optimized mechanical, thermal, and electromagnetic properties.
“Fortify has been focused on proving the viability of our product and market opportunity over the past 18-plus months, and exceeded our goals set at the beginning of 2020,” said Josh Martin, CEO and co-founder of Fortify, in a statement. “This next round will expand our go-to-market footprint in key verticals such as injection mold tooling while enabling us to capture market share in end-use electronic devices.”
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