Industrifonden, a venture capital investor based in Stockholm, led an investment round for 15 million SEK (Swedish Krona), about $1.5 million, to finance metal 3D printing company Freemelt. The money intended to fuel the next phase of the company’s growth, driving the metal 3D printing revolution forward with the development of the Freemelt One system. Freemelt is a Swedish company that is developing the first open-source EBM 3D printer, following the original patents on EBM expiring in 2016.
The Freemelt One, is an electron beam melting 3D printer, intended for Additive Manufacturing materials R&D and requires only a small amount of powder to operate, making it affordable and fast for users to test different metal powders. Since it is an open-source system, it allows users to adapt and evolve the code, and share it within the community, to accelerate the development of tomorrow’s materials.
Leveraging a Life Science and Technology portfolio that stretches across the Nordics. Industrifonden is an independent foundation. Which means the founders we work with receive the undivided attention and the benefit of a partner that not only believes in their vision but is willing to go the distance. As an evergreen fund, Industrifonden reinvests 100% of profits into new companies.
Over the last 40 years, the fund has tripled in size, investing in a number of cutting edge projects. In fact, Industrifonden has been building and scaling companies like Arcam, the original (and to date the only) EBM system manufacturer (acquired by GE in 2016 for nearly $400 million), as well as Qlik, Cellavision and Oatly, to become global companies positively impacting society.
While some companies have been able to build a profitable global business catering only to universities and corporate research & development demands, it is likely that – after building a strong basis – Freemelt will also eventually use its experience with EBM to produce commercial systems, heading into the world of metal AM production.