Digital Additive Mass Production (DAMP)Money & Funding

Evolve Additive Solutions raises $30M in funding from 3D Ventures

Investment to accelerate global growth and development of STEP technology for DAMP

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3D Ventures and its affiliates have agreed to a $30 million growth equity financing in Evolve Additive Solutions (EAS). The company will use these funds to accelerate commercial sales of its SVP (scaled volume production) platform and its STEP technology in the U.S., Europe, and Canada. This fundraising follows a period of growth in which Evolve has meaningfully expanded its product portfolio over the past 6 months.

The investment comes in the form of an SPV (special purpose vehicle), with closing is expected in the third quarter of 2021. Proceeds will be used to accelerate the commercial deployments of the company’s high throughput 3D printer.

3D Ventures and its affiliates are seasoned operators and investors with decades of experience in the 3D printing, additive manufacturing and related industries. The principals are Hugh Evans, Joe Allison and Wally Loewenbaum. They bring a unique pedigree of industry talents, expertise and resources to the company in addition to investment capital.

Evolve Additive Solutions raises $30M in funding from 3D Ventures - STEP technology

Joe Allison, Managing Partner of 3D Ventures, stated: “I have printed many parts over the course of my career, and in my opinion, the Evolve SVP system is the best 3D printer capable of competing directly with injection molding in terms of part quality, part cost and throughput.”

In 2018 Evolve received $25 million in investment capital from Stanley Black and Decker, The LEGO Group and Stratasys. 3D Ventures broadens Evolve’s portfolio of partners to include both strategic and financial groups.

“Funding from 3D Ventures reflects their confidence in our business model, our growth trajectory and our ability to meet a need in the additive manufacturing marketplace,” stated, Steve Chillscyzn, CEO and Founder of Evolve. “We are now balanced with excellent backing in place from both the strategic and investment partners.” He added: “This investment presents a major step forward in fueling our growth and better positioning ourselves as a manufacturing solutions organization.”

Evolve’s STEP (selective thermoplastic electrophotographic process) technology sits alongside traditional manufacturing processes, such as injection molding, on the manufacturing floor and augments an organization’s production capabilities allowing freedom of design and faster time to market with “toolless” production.

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Davide Sher

Since 2002, Davide has built up extensive experience as a technology journalist, market analyst and consultant for the additive manufacturing industry. Born in Milan, Italy, he spent 12 years in the United States, where he completed his studies at SUNY USB. As a journalist covering the tech and videogame industry for over 10 years, he began covering the AM industry in 2013, first as an international journalist and subsequently as a market analyst, focusing on the additive manufacturing industry and relative vertical markets. In 2016 he co-founded London-based 3dpbm. Today the company publishes the leading news and insights websites 3D Printing Media Network and Replicatore, as well as 3D Printing Business Directory, the largest global directory of companies in the additive manufacturing industry.

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