China 3D printing player Boston Micro gets $24m Series D
China and US-based microscale 3D printing company Boston Micro Fabrication has raised USD 24m in Series D funding led by Guotai Junan Securities.
Shanghai Zhangjiang Science & Technology Investment, Zhongxin Hefu (Chongqing) Equity Investment Fund Management, and National Manufacturing Transformation & Upgrade Fund also participated.
It follows a USD 43m Series C led by Zhenzhen Capital Group last year. Shenzhen Capital invested USD 9m in 2017, according to AVCJ Research. Previous backers also include Shenzhen Green Pine Capital Partners, Haitong Capital Investment, Shenzhen Mobile Internet Alliance Capital Partners, and Zhangjiagang Industrial Capital Investment.
Boston Micro claims to be the only additive manufacturing company capable of precision production at the 2-micrometre scale. The company uses a 3D printing approach called projection micro stereolithography that leverages light, customizable optics, a high-quality movement platform, and controlled processing technology.
The core use-case is the production of high-resolution 3D prints for product development, research, and industrial short-run production. These are used by some 2,000 scientific research institutions and industrial enterprises in 35 countries.
The technology is touted as a breakthrough because it empowers manufacturers to miniaturize and therefore to capitalise on the benefits of 3D printing without sacrificing quality or scale. Additive manufacturing adds the most value when used to produce parts that are expensive or difficult to make using conventional techniques.
Boston Micro will use the fresh capital to advance R&D capabilities, promote end products, and develop various global collaborations in medical technology and high-end manufacturing. Recent progress on this front includes the establishment of new facilities in Boston and Shenzhen, as well as Chongqing and Tokyo.
“Miniaturization, precision, and complexity of devices are the major trends in industrial development,” Xiaoning He, co-founder and CEO of Boston Micro, said in a statement. “Despite this market pressure, traditional manufacturing processes struggle at the smaller scale companies are now demanding.”
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