Chromatic 3D Materials has closed 6 million USD of financing for its third equity issuance.
The funding will enable Chromatic to build production capabilities, advance customers through their approval processes, grow revenue and continue to advance technology performance and quality through a combination of industrial chemistry and innovative additive manufacturing techniques. Last year, the company announced it had raised 3.1 million USD in what was described as an ‘oversubscribed pre-financing round.’
In this latest round of financing, it is understood that new and existing investors participated, with Embedded Ventures – the deep tech venture capital fund set up by Jordan Noone, the Founding CTO of Relativity Space – among them. Chromatic has now raised more than 15 million USD in total, with additional equity financing rounds coming in 2018 and 2021. The earlier funding allowed Chromatic to establish resin production in the US, as well as printer production in Germany.
Since the 2021, Chromatic has launched 12 proprietary material grades with a range of flexibilities that are ‘ideal for use in textile, automotive and industrial hydraulic applications.’ One partnership has seen Chromatic supply 1,600 climate-control cable grommets for Daimler Truck buses, while more than 250 ÖBB rail vehicles have been outfitted with Chromatic parts. Last year, Chromatic debuted a line of RX-Flow 3D printers, which is said to have attracted interest in the consumer goods, industrial and aerospace markets.
“Chromatic delivers the material performance and technology required to make manufacturing more responsive and sustainable,” said Chromatic founder and CEO Cora Leibig. “With this financing, we’ll be driving implementation of our technology across several markets and continuing to expand our market reach.”
“From our first investment, I was convinced that Chromatic was delivering a truly novel and necessary technology to the additive manufacturing space,” added Noone, Embedded Ventures Co-founder and General Partner. “The applications in the pipeline, particularly in aerospace, are transformative, and I’m excited to support the company through implementation and commercialisation.”
