The European Innovation Council (EIC), with € 4 million, and the European Investment Bank (EIB) with € 11 million both invested in German AM post-processing startup DyeMansion. With these two EU fundings, DyeMansion secured long-term company development, working to enable an era of digital manufacturing where 3D printed products become part of everyday life. The company also appointed two new board members – Felix Reinshagen and Peter Nietzer. The two experienced entrepreneurs, investors in the B2B industrial tech sector, will support DyeMansion in the next phase of growth.
“The financial support of the EU, as well as the additional expertise on the board, will help DyeMansion continue to lead the transformation of the […] industry at the forefront. Combined with the momentum in the fourth quarter of 2021 and the continued support of our existing investors, we are now well-positioned to continue to energetically develop relevant, highly industrial technologies that help our customers produce 3D-printed products with superior quality”, said Felix Ewald, CEO & Co-Founder of DyeMansion, right after a record-breaking Q4 in 2021, when the company sold over 100 machines.
The European Innovation Council (EIC) Fund is Europe’s flagship innovation program to identify, develop and scale up breakthrough and game-changing technologies. As a result of the successful market launch of DyeMansion’s VaporFuse technology and its hardware Powerfuse S the EIC Fund is adding a fresh € 4 million funding.
In 2020 the EIC has selected DyeMansion with their Powerfuse S to be part of the first “Green Deal” call within the European Union’s Horizon 2020 research and innovation program. With the successful rollout of the green & industrial vapor polishing system for sealed surfaces, DyeMansion supports the aim of the EU to promote the efficient use of resources by moving to a clean, circular economy. Now the EIC Fund supports this unification of economic sustainability and digital manufacturing again.
Nicklas Bergman, EIC Fund Investment Committee member, commented: “We are proud to announce the EIC Fund support to DyeMansion. Through this investment, the EIC Fund is backing the additive manufacturing post-processing company growth and helping this company to implement a more sustainable supply chain.”
The additional € 11 million funding of the EIB, the European Investment Bank, is backed by the European Guarantee Fund (EGF) Venture Debt. The EGF-VD allows the Bank to provide growth capital to European small and medium-sized companies (SMEs) impacted by the COVID-19-crisis. EGF Venture Debt is based on a 100 percent risk coverage from the 22 participating EU-member states.
Fabrizio Morgera, Senior Investment Officer at the EIB, said about the deal: “We are happy to support F&E activities at this innovative start-up company. We believe in the 3D printing market, and post-processing should be one of the winners following the Covid crisis, concerning global supply chains and sustainability.”
With the EIC and EIB funding, the company’s total financing reaches $ 43 million. Recognizing sustainability as one of DyeMansion’s core values that drives each innovation of the fast-growing company, the EIB especially supports Research & Development expenses.
This further EU financing lays the long-term foundations for DyeMansion to remain the technology leader for post-processing. DyeMansion is now able to bring even more and even faster new products to the market, such as the Powershot Performance Series in 2021. With their innovations, DyeMansion blends right into the factory of the future with state-of-the-art automation technology to set up industry 4.0 ready production lines of tomorrow.
DyeMansion also announces that Felix Reinshagen and Peter Nietzer became the two new members of the advisory board. As an experienced entrepreneur, board member and investor, Peter Nietzer will actively accompany the development of DyeMansion as Chairman of the Board. In addition to various active roles in the management of private and public companies, he currently supports firms as an investor and board member. Peter Nietzer brings industry experience not least from his role as Chairman of the Supervisory Board of Voxeljet, which he has accompanied since 2013.
Felix Reinshagen is the founder and CEO of NavVis, a high-tech startup in the field of reality capture and digital twins in construction and manufacturing. His experience in building a fast-growing high-tech company in the B2B industry environment will not only be available as a board member but also as a sparring partner for DyeMansion’s founders and management.
The company’s existing investors, AM Ventures, btov Industrial Technologies Fund, UVC Partners, KGAL, Nordic Alpha Partners and the OMS-Invest GmbH are also happy about this news and remain bullish on DyeMansion’s journey.
“I got to know Felix and Philipp already before the incorporation of DyeMansion in 2015 and I am more than happy that I had the chance to support them ever since. I continue to be very impressed with what this strong team has achieved so far. Their technology has been a key driver in developing the Additive Manufacturing market further and in enabling high-volume applications. Their outstanding results last quarter and a strong pipeline for 2022 show the great potential of DyeMansion. And the best is yet to come”, commented Arno Held, Managing Partner of AM Ventures.