The funding will enable Chromatic to build production capabilities, advance customers through their approval processes and grow revenue.
MINNEAPOLIS, MN, September 17, 2024 /24-7PressRelease/ — Chromatic 3D Materials, an additive manufacturing technology provider, has closed $6 million 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.
“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.”
Both new and prior investors participated in the round, including Embedded Ventures.
“From our first investment, I was convinced that Chromatic was delivering a truly novel and necessary technology to the additive manufacturing space,” said Embedded Ventures cofounder and general partner Jordan Noone. “The applications in the pipeline, particularly in aerospace, are transformative, and I’m excited to support the company through implementation and commercialization.”
In total, Chromatic has raised more than $15 million of financing, including equity financing in 2018 and 2021. With earlier funding, Chromatic established resin production in the U.S. as well as printer production in Germany. In 2023, the company debuted a line of RX-Flow™ 3D printers, with growing sales in the consumer, industrial and aerospace markets in both the U.S. and EU.
Since its investment round in 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. For example, Chromatic supplied 1,600 climate-control cable grommets for Daimler Truck buses. More than 250 ÖBB rail vehicles have likewise been outfitted with Chromatic parts.
Many of Chromatic’s material grades are the fruit of partnerships with market leaders looking to reinvent their elastomeric fabrication processes and product designs. To improve manufacturers’ production capabilities, several active joint development projects are applying RX-AM™ printing technology in the aerospace, defense, consumer furnishing, industrial and technical textile markets. Chromatic has a growing patent portfolio, with 10 issuances and more than 25 pending applications in the U.S. and around the world.
About Chromatic 3D Materials
Chromatic 3D Materials is an additive manufacturing technology company focused on more flexible, cost-effective and sustainable manufacturing of industrial-strength elastomeric products. Its material portfolio includes printable polyurethanes and other durable thermoset elastomers for applications in transportation, industrial seals and gaskets, textiles, medical devices and defense. Chromatic’s RX-AM™ materials and technology platform are based on reactive extrusion additive manufacturing, a type of deposition 3D printing that uses chemical reactions. In addition to proprietary resins, the RX-AM™ platform includes software and RX-Flow™ printers for use in standard and custom configurations.
Founded in 2016 by CEO Dr. Cora Leibig, Chromatic now has facilities in the U.S. and Germany. The company serves more than 50 customers and development partners globally. Visit c3dm.com to learn more.
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