August 2, 2016
Today, Amsterdam-based 3D Hubs is announcing the successful close of a $7 million Series B round led by EQT and Balderton Capital. The round is also supported by previous investors from Google, Uber, Booking.com, and Spotify. According to 3D Hubs, the company plans to use the new capital to expand their network to a global scale. Per the terms of the round, Ted Persson, Design Partner at EQT Ventures, will join 3D Hubs’ Board of Directors.
3D Hubs connects those in communities with 3D printers to those who need items 3D printed. As a result, the company contributes to both the on demand economy and adds additional value to those with professional 3D printing equipment to create a zero-inventory ecosystem. To date, their network spans to more than 160 countries around the world, connecting professionals to 3D printing services. According to the company, 3D Hubs has grown to more than 40,000 3D prints per month, which is a drastic increase since their initial funding round in 2014.
“We were inspired by the profoundly positive impact that online marketplaces have had on many industries, and we wanted to establish that same marketplace for 3D printing,” said CEO and cofounder of 3D Hubs Bram de Zwart. “Our team of investors has a deep understanding of online marketplace dynamics, and we’re thrilled to announce that EQT has joined us in our mission to decentralize manufacturing.”
Though the hobbyist world added fuel to the 3D printing industry, there has been a consistent shift to a more professional nature. This is especially true for 3D Hubs, which now primarily caters to professionals who want to select from a range of local custom manufacturing options and the materials used to create the prints.
“We’ve only seen the beginning of what 3D printing will offer, and 3D Hubs is by far the most well-positioned company we’ve encountered in this space. We are very impressed with what Bram, Brian and the rest of the team have managed to build in just under 3 years, so when EQT Ventures was invited to support their future journey we didn’t hesitate,” said EQT Ventures Design Partner Ted Persson.
To date, 3D Hubs has raised $11.5 million in outside funding. As part of their global expansion, funding from this round will go towards improving their on-demand, online platform.
“It’s rare to see a company that has such an immediate disruptive effect on both software companies and physical supply chains. 3D Hubs has already started changing the way designers and producers think and work.” said Balderton Capital’s James Wise.
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