Essentium, a 3-D printing firm, has raised USD 22M in a Series A round led by BASF Venture Capital. Materialise and Genesis Park have also invested, as did Essentium’s previous seed investors.
The funding has been in the works for some time, as College Station, Texas-based Essentium has been working closely with BASF and Materialise to advance its technologies. Essentium developed a High Speed Extrusion (HSE) 3-D printing platform, furthering work on its FlashFuse technology with BASF to enhance the mechanical strength of extrusion-based 3-D printing. Materialise is developing the software.
Chemical giant BASF has also been working with both Materialise and Essentium; last year, the company announced a USD 25M investment in Materialise and a materials partnership with Essentium to create a global material supply chain for HSE. The three companies are leveraging one another’s expertise in processes, software and materials for advanced 3-D printing.
These three partners see a joint strength in working together to bring extrusion-based 3-D printing (known as Fused Filament Fabrication, or FFF, and commonly referred to by Stratasys’ trademarked term Fused Deposition Modeling, or FDM) into manufacturing.