Metal 3D printing startup Fabric8Labs is developing non-thermal 3D metal printers with atom-to-atom printing capabilities, raising $19.3 million from major investors in the process.
The startup’s approach has resulted in interest from Mark Cuban and Intel Capital, which led a Series A funding round that also counted with the participation of TDK Ventures, Stanley Ventures, and Lam Capital.
The round raised $19.3 million, bringing the total funding raised by the company to $23.3M
The funding will allow the startup to deploy the beta version of its printers in partnership with firms looking to apply them to the creation of real-world parts, allowing the team to test them in a production environment.
While the startup has not named the firms it has partnered with, it is targeting the electronic, semiconductor packaging, medical, and radiofrequency component industries.
The company was founded by Jeff Herman and David Pain back in 2015 and has grown to have about 25 employees at the time. The technology developed by the team enables the creation of metal parts with superior density and surface finish at small sizes, essential at a time when components need to get smaller.
In addition to the better performance in terms of quality, the technology consumes less power than traditional methods and less waste, making them more cost-effective and reducing pollution in the process.
Pain referred to this approach by stating:
“We are using a very different feedstock material for our process, which is much lower cost. That is a huge benefit when you are doing anything at scale, because the material cost is really the main driver when you are looking at large scale manufacturing.”
The additive manufacturing market is expected to grow as high as $153 Billion by 2030, making the startup’s potential incredibly attractive for investors. In this regard, Managing Director at Intel Capital.
Jennifer Ard said:
“The capability to additively manufacture multiple metals with high precision is highly compelling. Fabric8Labs’ technology offers a unique option for future electronics applications.”
In addition to launching the distribution of its beta printers, the metal 3D printing startup will be growing the size of its team to 50 members in the near future while also focusing on continuing the development of its technology in collaboration with its partners.