AstroPrint Secures Second Round of Funding for Business Solutions
With this new investment, AstroPrint has raised a total of $2.1M, and is now poised to grow its 3D printing cloud solution.
May 17, 2019
AstroPrint has just concluded a successful second funding round where AstroPrint raised a total of $1M from two prominent venture capitalists: Stanley Ventures and Alma Mundi Ventures. With this new investment, AstroPrint has raised a total of $2.1M, and is now poised to grow its 3D printing cloud solution.
Stanley Ventures is the venture capital arm of Fortune 500 company Stanley Black & Decker. Stanley Ventures has invested in several companies in the additive manufacturing space, including an investment in a new Selective Thermoplastic Electrophotographic Process (STEP) 3D printing technology.
Alma Mundi Ventures is a tech venture fund based in Madrid with investors in Palo Alto, CA; New York; London; Paris; Barcelona and Madrid, orchestrating a global network of over 500 members in 41 cities worldwide. Their investments are primarily global tech startups in the United States and in Europe.
AstroPrint is now ready to offer the AstroPrint Enterprise Cloud to other companies. Recently emerging from the STANLEY+Techstars Accelerator, which is jointly run by Stanley Black & Decker and worldwide entrepreneurship network Techstars, AstroPrint is deploying the AstroPrint Enterprise Cloud platform across multiple Stanley Black & Decker facilities. The next step is to offer the Enterprise Cloud solution to other companies that also need distributed Additive Manufacturing abilities and would benefit from data-driven optimization of their Additive Manufacturing operations.
Building on the offices in San Diego (USA) and Malaga (Spain), AstroPrint has also opened an office in Hartford, CT, to better serve customers in New York, Connecticut, Massachusetts and the rest of the northeast United States, where a high concentration of additive manufacturing operators are located.
“Stanley Ventures is proud to be a part of AstroPrint’s growth journey, and we are confident that their Enterprise Cloud solution will be a game changer in Enterprise adoption of Additive Manufacturing. We are investing in the best and brightest prospects in Additive Manufacturing as we see the potential for it to dramatically revolutionize the way companies test, prototype, and even fully manufacture products in a faster, cheaper, and more sustainable way than we do today,” says Dina Routhier, director at Stanley Ventures.
“Having won the faith and trust of VCs like Stanley Ventures and Alma Mundi Ventures tells us that we are on the right track to fill an important gap in the additive manufacturing industry and to add tremendous value for companies that are increasingly global and multi-location,” says Drew Taylor, CEO of AstroPrint.
“The next step for us is two fold: First, we want to help existing manufacturers create smarter Additive Manufacturing networks so they can share and optimize resources within their companies. Second, we want to identify industries and companies that are yet to take advantage of 3D printing in their prototyping and testing processes, and help them overcome the traditional obstacles of distributed locations and remote expertise,” Drew adds.
AstroPrint Enterprise Cloud is now available for organizations seeking to connect, control, and optimize their 3D printer fleets.
Sources: Press materials received from the company and additional information gleaned from the company’s website.