Fortify Raises $20M Series B for Composite 3D Printing

Recent Developments in Additive Manufacturing

The field of additive manufacturing has experienced considerable activity in recent months. A key driver of this growth appears to be the increased attention stemming from the pandemic, mirroring a similar trend observed in the robotics industry.

Specifically, the demand for medical applications and alternative production methods has surged.

Funding and Expansion for Fortify

Following significant announcements from companies like Desktop Metal, Markforged, and Mantel, Fortify is now gaining attention with a substantial funding injection.

The Boston-based company has secured $20 million in Series B equity funding, led by Cota Capital, with further investment from Accel Partners, Neotribe Ventures, and Prelude Ventures.

Fortify’s Technology and Focus

Fortify is concentrating on advancements in material deposition techniques.

Leveraging digital light processing (DLP) technology, the company facilitates the mixing and printing of diverse materials, offering a broad spectrum of properties.

These properties encompass characteristics such as electromagnetic and thermal capabilities.

Similar to Mantel, Fortify is prioritizing the development of manufacturing tools, notably for injection molding.

CEO Statement

“Over the past 18 months, Fortify has successfully demonstrated the feasibility of our product and identified a strong market opportunity, surpassing our initial objectives set in 2020,” stated CEO Josh Martin.

“This new funding round will broaden our market reach within key sectors like injection mold tooling and enable us to gain a larger share of the market for end-use electronic devices.”

Strategic Additions to the Team

The company has recently strengthened its team by recruiting experienced professionals from the 3D printing sector.

Paul Dresens, formerly of Desktop Metal, has joined as VP of Engineering, while Rob Stevens, a former market executive from GrabCad (acquired by Stratasys), has been appointed as an advisor.

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