Polymaker secures $5 million in funding, expands into Americas
Funding will be used to increase manufacturing capacity and fuel R&D of next-generation products.0
Polymaker, a Shanghai-based 3D printing materials company, has closed a new round of equity funding, totalling US$5 million.
The funding will be used to expand Polymaker’s manufacturing capacity and fuel R&D of next-generation products, while developing new applications and supporting the company’s customers worldwide.
The company reported very healthy, market-driven growth in 2016, with over 200% increase in revenue compared to the previous year. Polymaker introduced two new products, The Polysher and PolySmooth, via a highly successful Kickstarter campaign. These new products enable high quality, layer-free prints obtained effortlessly and cost-effectively using extrusion-based 3D printing technologies. This is one of the many examples of Polymaker’s technological innovations, which enable the company to penetrate into a variety of industrial markets.
“Our customer base ranges from hobbyists to the most advanced industrial customers in the world and the funding allows us to exceed expectations to our global customers’ business needs,” says Dr. Xiaofan Luo, the President of Polymaker.
The is planning to launch a variety of new products to the market this year, with major announcements expected in the coming months.
Polymaker has also announced the appointment of Jeffrey L. Walters as Vice President of Business Development, Americas.
Walters is a veteran of 3D printing with over 6 years of leadership experience within the industry and brings a wealth of knowledge in the global filament market for Polymaker.
“We expect to grow significantly by delivering more than what is expected as a proper business partner, industry consultants, and deliver the highest standards of quality in the manufacturing process,” explains Jeffrey L Walters, Vice President of Business Development. “We believe our filament portfolio and its overall performance will challenge the market standards and will be refreshing for its global users.”
This announcement demonstrates the company’s commitment to expanding across global markets and better serving customers across North and South America.