- Fortify – a Boston-based additive manufacturing company — announced it has raised a $20 million equity round. These are the details.
Fortify – a Boston-based additive manufacturing company — announced it has raised a $20 million equity round led by Cota Capital with additional participation from Accel Partners, Neotribe Ventures, and Prelude Ventures. This round of capital is expected to fuel team growth, accelerate expansion in high-value application spaces, and transition to volume manufacturing of the Flux Series 3D printers.
Fortify has been transforming the 3D printing industry with its patented DCM (Digital Composite Manufacturing) platform. DCM delivers new levels of additively manufactured part performance by introducing functional additives to photopolymers. And by combining a deep understanding of material science with high performance mixing, magnetics, and polymer physics, Fortify is able to produce custom microstructures in high-resolution 3D printed parts.
Now the company is currently focused on applications ranging from injection mold tooling to high performance end-use parts with unique mechanical and electromagnetic properties. Launched in 2016 and based in Boston, Fortify technology enables material properties and components unattainable using other additive or traditional manufacturing processes.
By identifying a need for better material properties in 3D printing, Fortify had invented Digital Composite Manufacturing (DCM) – which combines proprietary systems for mixing and magnetic alignment with digital light processing (DLP) to produce composite parts with optimized mechanical, thermal, and electromagnetic properties. And the hardware combined with software, materials development, and processing expertise is opening up new additive manufacturing capabilities by tuning material properties for specific applications.
The team had continued to steadily grow over the past 18 months with most notable hires including Paul Dresens as VP of Engineering (formerly of Desktop Metal) and Advisor Rob Stevens (formerly of GrabCad and Stratasys). This funding round will be used to accelerate time to market on several high-value strategy material development programs between Fortify and its material partners.
Fortify had previously announced partnerships with Henkel, DSM, Tethon3D, and will be making additional announcements over the course of 2021.
KEY QUOTES:
“The additive manufacturing market is rapidly expanding, and we believe that Fortify is unlocking one of the key barriers to growth of the industry: advanced materials. We are excited to collaborate and support the company as it continues to redefine advanced manufacturing.”
— Bobby Yazdani, Founder and Partner at Cota Capital
“Fortify has been focused on proving the viability of our product and market opportunity over the past 18+ months, and exceeded our goals set at the beginning of 2020. This next round will expand our go-to-market footprint in key verticals such as injection mold tooling while enabling us to capture market share in end-use electronic devices.”
— Josh Martin, CEO and Cofounder of Fortify
