Chromatic 3D Materials, a leading provider of additive manufacturing technology, has successfully closed a $6 million financing round in its third equity issuance. This latest funding injection brings the company’s total raised capital to over $15 million, following previous equity financing rounds in 2018 and 2021. The new investment will play a crucial role in expanding Chromatic’s production capabilities, accelerating customer approval processes, driving revenue growth, and advancing its technology performance and quality through a combination of industrial chemistry and innovative additive manufacturing techniques.
CEO and founder Cora Leibig emphasized the importance of this funding, stating, ‘Chromatic delivers the material performance and technology required to make manufacturing more responsive and sustainable. With this financing, we’ll be driving implementation of our technology across several markets and continuing to expand our market reach.’ The round saw participation from both new and existing investors, including Embedded Ventures, whose cofounder and general partner Jordan Noone expressed confidence in Chromatic’s potential to transform the additive manufacturing space, particularly in aerospace applications.
Since its previous funding round in 2021, Chromatic has made significant strides in product development and market expansion. The company has launched 12 proprietary material grades with varying flexibilities, catering to textile, automotive, and industrial hydraulic applications. Notable achievements include supplying 1,600 climate-control cable grommets for Daimler Truck buses and outfitting over 250 ÖBB rail vehicles with Chromatic parts.
Chromatic’s growth strategy involves partnerships with market leaders to reinvent elastomeric fabrication processes and product designs. The company is actively engaged in joint development projects applying its RX-AM™ printing technology across aerospace, defense, consumer furnishing, industrial, and technical textile markets. This collaborative approach has contributed to Chromatic’s expanding patent portfolio, which now includes 10 issued patents and more than 25 pending applications globally.
The company’s technology offerings have also seen significant development. In 2023, Chromatic introduced a line of RX-Flow™ 3D printers, which have gained traction in consumer, industrial, and aerospace markets in both the United States and European Union. These printers, along with Chromatic’s proprietary resins and RX-AM™ technology platform, form a comprehensive solution for reactive extrusion additive manufacturing, a specialized type of 3D printing that utilizes chemical reactions.
Chromatic 3D Materials’ focus on flexible, cost-effective, and sustainable manufacturing of industrial-strength elastomeric products positions it at the forefront of addressing key challenges in modern manufacturing. The company’s material portfolio, which includes printable polyurethanes and other durable thermoset elastomers, caters to a wide range of applications from transportation and industrial seals to textiles, medical devices, and defense.
With facilities in both the United States and Germany, Chromatic now serves over 50 customers and development partners globally. The company’s continued growth and innovation in additive manufacturing technology have the potential to significantly impact various industries by enabling more responsive and sustainable production methods. As Chromatic advances its technology and expands its market reach with this new funding, it is poised to play a pivotal role in shaping the future of manufacturing across multiple sectors.
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