Additive manufacturing startup Fortify closes $10 million Series A round
Additive manufacturing startup Fortify announced this week it has closed a $10 million Series A round, led by Accel. Additional participants were Neotribe, Prelude Ventures, and Mainspring Capital Partners. The funding will aid the Boston-based company’s launch of its Discovery Partner Program for early access to its digital composite manufacturing platform.
Fortify’s composite 3D printing technology called ‘Fluxprint’ uses magnetics and digital light processing (DLP). Industries such as manufacturing, aerospace and automotive industries can leverage this technology to “tune” material properties to create products such as electrical connectors, impellers, mixers and specialty drones. Fortify hopes that its offer of a more precise and less wasteful production process will entice manufacturing customers.
“Now more than ever before, it's vital that the U.S. economy has a strong manufacturing ecosystem. Fortify is uniquely positioned to help lead the resurgence of American manufacturing by using tech to produce best-in-class parts for the digital age.”
“Now more than ever before, it's vital that the U.S. economy has a strong manufacturing ecosystem," said Eric Wolford, venture partner at Accel, in a statement. “Fortify is uniquely positioned to help lead the resurgence of American manufacturing by using tech to produce best-in-class parts for the digital age. We're thrilled to support the entire Fortify team as they continue to set a new standard in manufacturing.”
“We’ve achieved so much since our founding, and we’re eager to expand on our platform capabilities,” added Josh Martin, CEO and founder of Fortify. “With the support of our investors, we will focus on innovation, bring our technology to new partners, and grow our product offerings.”
Fortify’s initial focus will be injection mold tooling for quick turn, lower volume runs and high performance end use parts.
“Material properties are the dominant factor driving adoption of Additive Manufacturing across industries,'' said Ben Arnold, Fortify VP of Business Development. “Our open materials platform leverages the world’s leading polymer chemists as they continually innovate. We reinforce these base resin with fiber as we print to gain significantly higher levels of performance. It’s quite exciting that even in this early stage of the company, we have customers buying parts for use in production applications.”