Swedish startup Wematter has a mission to democratize 3D printers and raised € 4 million ($ 4.7 million) in its latest funding round to expand its advanced Selective Laser Sintering (SLS) technology and sales – Expand marketing and manufacturing efforts. The new investment was raised through a targeted re-issue of shares totaling EUR 2.6 million (US $ 3 million) to institutional and private investors, including the main owners of Betsson of the largest companies in the European iGaming industry and an unnamed additive manufacturing (AM) industrialist. Existing owners, management and the board of directors have completed the final financing amount of EUR 1.4 million (USD 1.6 million).
Since the start in 2014, Wematter has raised around 9.7 million euros in five rounds. The startup’s previous funding announcement from a venture round in 2019 was EUR 3.9 million (USD 4.6 million). However, this latest investment is the largest in the company’s history. Wematter stated that the sales organization grew by five new members in 2020 and the number of employees rose to over 25. The youngest team members already have experience with scale-up companies and AM system backgrounds who have already worked with a large part of the Nordic region.
Wematter founder and CEO Robert Kniola said he is personally proud to attract people who have made the same journey to other Swedish companies in the industry, including employees with 30 years of experience in 3D printing. He said this “proves our attractiveness as a company and it gives us excellent conditions to take the next step in our growth.”
The new funds will primarily be used to keep sales people busy and continue to conduct research into new materials and other product developments, Kniola said. The startup also strives to efficiently scale the production process with external suppliers in order to be able to plan for the long term.
Finding venture capital during the ongoing COVID-19 pandemic, which began in March 2020, has been a challenge for the Swedish industrial sector, said Håkan Dahllöf, Chairman of the Board of Directors of Wematter. As one of the company’s investors, Dahllöf believes that the combination of a sustainable product and building a long-term relationship sets Wematter apart from the competition and therefore customers choose their product. The recent issue of targeted new shares enables a market launch and start of production which, along with broader ownership, paves the way for an upcoming listing, the investor said. Swedish companies usually list at home, usually in one of two regulated markets, NASDAQ Stockholm and First North, the junior market of NASDAQ Stockholm. Hopefully we will learn more about this step in the future.
Wematter has developed a flagship on-site in the southern Swedish city of Linköping, the Gravity 2021 SLS 3D printer, which, together with the associated devices and software, is rented out as an AM system solution to customers who want to accelerate their product development. Wematter states this is an ideal sustainable long-term rental model for companies primarily active in manufacturing and technology consultants, healthcare and medical technology.
Request for quotation
Do you want to buy a 3D printer or a 3D scanner? We are here to help. Get free advice and quotes from trusted suppliers in your area.
Driven by Aniwaa
The patented company uses gravity Aurora Powder pFlushing material that is made from renewable sources and can be recycled for new print jobs. After each print job, the remaining powder is collected with an inertial vacuum unit. The powder used is then mixed with 50% new powder to ensure that all mechanical properties are retained. Eventually, the combined new and recycled material is carried over into Aurora Powder container and sent to a Gravity 3D printer. This innovative process is carried out in Wematter’s office and quality checked in his laboratory. Depending on the material and frequency of reuse, up to 100% of the powder used can be recycled. This makes this process a fascinating and sustainable one.
Some sample prints from the Gravity SLS printer are: industrial and commercial applications such as moving parts for a drone arm differrental fee Parts for bespoke patient prostheses and even medals for racing competitions. Within the healthcare industry, Wematter even has the option of using modern software based on CT data to print complex fractures for surgical planning. In this case, the prints are made from biodegradable plastic and were used in real operations. The startup has developed a bio-based 3D-printed orthosis that replaced traditional orthopedic patches for the first time in Sweden. All of this as part of the Innovative Materials Arena (IMA). A regional initiative that focuses on driving innovation in materials science and production engineering.
With Wematter, companies only pay for the prints they need in-house and on demand, without worrying about machine, service or installation costs. They also receive free updates, a lower liquidity burden and a cloud-connected system that is self-sufficient to diagnose and fix errors online. Wematter focuses on the user experience by developing accessible, user-friendly and sustainable SLS machines and has attracted top customers such as Siemens, Volvo and Husqvarna. Founded by designers working with FDM and SLA 3D printers, as well as injection molding and CNC milling, the company has supplied 3D printers and printed parts to automobile manufacturers, hospitals and aircraft factories.
In 2021, Wematter expanded its 3D printing ecosystem with new hardware for improved mechanical properties. The novel Atmosphere module is an option for the gravity ecosystem that enhances SLS 3D printing. Wematter claims that Atmosphere will be available in spring 2021 and will offer improved control of build chamber conditions in the gravity printer to improve part density, surface finish and mechanical performance. In addition, the startup began a collaboration in AM product development and prototyping with Etteplan, a provider of industrial systems and plant construction solutions for the world’s leading companies in the manufacturing industry. Etteplan already has a strong position within AM today, but the ultimate goal is to develop the company’s capabilities and support all offices and engineers with SLS printing.