Laying down a veil or ridicule to the generalist media claim that “3D printing is dead”, 3D Hubs, the world’s largest online marketplace for 3D printing services, completed its Series B financing, totaling $7 million, led by EQT Ventures, followed by original backer Balderton Capital. Ted Persson, Design Partner at EQT Ventures, will be joining the 3D Hubs Board of Directors. The round will enable 3D Hubs to further its mission towards developing a connected network of 3D printing services to support the company’s rapidly growing professional user base. 3D Hubs makes it easy for product designers and engineers to find the right 3D print solution for their prototyping and small production runs in over 160 countries. By connecting a growing number of professionals with 3D printing service providers, 3D Hubs has grown to over 40,000 3D prints per month – a +1,500% increase since the company’s round of Series A funding in 2014. For all those who follow the growth of the “new” 3D printing industry, seeing 3D Hubs evolve and expand has certainly been an indication of how AM technologies are only at the very beginning of their growth cycle. Like many other 3D printing startups 3D Hubs was born with the new wave of low cost desktop 3D printers and like many other startups it has evolved into the professional arena bringing that knowledge of networked and IT technologies that many “traditional industrial 3D printing companies” still lacked. Along with a fresh new “sharing economy” approach. With 16 Fortune 100 companies currently utilizing 3D Hubs for solutions across the automotive, aerospace, healthcare industries, and more, 3D Hubs has established itself as a driving force in today’s market, powering the future of cutting edge 3D printing technology. By connecting 3D printing services from all over the world into one sleek, user-forward platform, 3D Hubs has created an unprecedentedly seamless solution for global industry professionals in varying business size, where 3D printing has never been so accessible. “We were inspired by the profoundly positive impact that online marketplaces have had on many industries, and we wanted to establish that same marketplace for 3D printing,” said Bram de Zwart, CEO and cofounder of 3D Hubs. “Our team of investors has a deep understanding of online marketplace dynamics, and we’re thrilled to announce that EQT has joined us in our mission to decentralize manufacturing.” Since the company’s inception in 2013 by cofounders de Zwart and Brian Garret, the 3D Hubs team has been joined by investors from Google, Uber, Booking.com, and Spotify. With the addition of their Series B, 3D Hubs has raised $11.5 million in funding to date. The company will use its new financing to continue making it easier for professionals to access local 3D printing services via an on-demand, online platform. “We’ve only seen the beginning of what 3D printing will offer, and 3D Hubs is by far the most well-positioned company we’ve encountered in this space. We are very impressed with what Bram, Brian and the rest of the team have managed to build in just under 3 years, so when EQT Ventures was invited to support their future journey we didn’t hesitate,” said Ted Persson, Design Partner at EQT Ventures, who will join 3D Hubs Board of Directors. “It’s rare to see a company that has such an immediate disruptive effect on both software companies and physical supply chains. 3D Hubs has already started changing the way designers and producers think and work.” said James Wise, partner of Balderton Capital and Board Member of 3D Hubs. The best is very likely yet to come.
May 27, 2016
October 20, 2016