Inkbit, a Medford, MA-based company which specializes in advanced additive manufacturing solutions, raised $19M in funding.
The round was led by Ingersoll Rand (NYSE: IR), with participation from Future Labs Capital, GC Ventures America, iGlobe Partners, Ocado, Phoenix Venture Partners, Stratasys, Zeon Ventures, and other private investors. As part of the transaction, Jason Weber, Vice President of Engineering, Compressor Systems and Services, North America, and Henry Ford III, Director at the Ford Motor Company and Trustee at the Ford Foundation, will join the Inkbit Board of Directors.
The company intends to use the funds to expand operations and its development efforts.
Led by CEO Davide Marini, Inkbit is an additive manufacturing company providing a system, which is designed for volume production of complex polymer 3D printed parts. Incorporating a novel technology called vision-controlled jetting (VCJ), it delivers a multi-material additive manufacturing solution that accelerates the translation of ideas into products.
The Vision-Controlled Jetting™ (VCJ), a multi-material manufacturing system that scales from prototyping to production on the same platform, converges advances in computation, chemistry and process control, to enable rapid manufacturing of innovative products such as complex industrial fluidics and bio-inspired robots.
Commenting on the news, Davide Marini said: “This new partnership with Ingersoll Rand marks a key milestone in the history of our company. We are evolving from an equipment provider to partnering with manufacturers to develop new materials and processes to enable the acceleration and simplification of product innovation. For me personally, and for our team at Inkbit, being able to learn from and be inspired by some of the most iconic names in the history of American manufacturing is a once-in-a-lifetime opportunity. I look forward to building on this extraordinary tradition of technical ingenuity and operational excellence. Together, we will create the factories of the future.”
FinSMEs
07/05/2024