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March 10. 2021

AddiFab relocates + raises 4.5 million GBP (6.3 mUSD) in oversubscribed round

AddiFab relocates + raises 4.5 million GBP (6.3 mUSD) in oversubscribed round

(Taastrup, Denmark) AddiFab, inventor of Freeform Injection Molding (FIM), today announced that it has raised mGBP 4.5. The investment round was led by leading private equity firm West Hill Capital, and was oversubscribed by a factor of 2

AddiFab, an emerging leader in the 3D-printed tooling industry, is transforming injection molding by means of 3D-printing. The company flagship - Freeform Injection Molding – blends qualities from 3D-printing and injection molding to bring better products to market faster and cheaper.

To further accelerate the FIM international market expansion, AddiFab has secured an investment of mGBP 4.5. This round, which was led by the private equity firm West Hill Capital was completed in only 48 hours, and will enable AddiFab to:

  • Strengthen global availability of Freeform Injection Molding. In 2019, AddiFab teamed up with Mitsubishi Chemical to offer Freeform Injection Molding-as-a-service in the US, EU and Japan, and AddiFab is dedicated to further strengthening the presence and momentum of FIM in these and other markets.
    Mitsubishi Chemical Advanced Materials Chief Innovation Officer, Randy White, adds “AddiFab’s Freeform Injection Molding is already the flagship technology featured in MCAM’s global rapid prototyping service. This investment allows the best prototyping technology in the industry to get even better with faster processing times and added capability to mold larger parts.”

 

  • Strengthen communication about impacts delivered by Freeform Injection Molding. In the last 18 months, FIM has been used to transform the development of products in several demanding industries like.: Medical Devices, Personal Protective Equipment, Automotive, Packaging, Consumer Electronics, Personalized Prostheses and Critical Utility Infrastructure. FIM has demonstrated strong capabilities in on-demand low-volume injection molding. And Freeform Injection Molding is emerging as the gateway to prototyping applications for recycled materials and other materials that are not otherwise 3D-printable

 

  • Strengthen supply of systems for Freeform Injection Molding: To meet increased demand for Freeform Injection Molding, AddiFab has moved to new and more spacious facilities. The goal is to rapidly triple the number of systems that can be produced, while at the same time dramatically increasing the number of customer evaluation projects that can be carried out.

Lasse Staal, CEO and co-founder of AddiFab, says: “Freeform Injection Molding is quickly gaining acceptance as the number one 3D-printed tooling technology. Superior design freedom and unconstrained selection of materials are key factors driving adoption among injection molders. With FIM in their toolbox, molders can reduce injection-molded product times-to-market and costs-to-market, while at the same time raising the bar on innovation, customization and on-demand deliveries. This funding round will enable us to speed up further international roll-out of Freeform Injection Molding, to keep up with the increasing demand in the market.

As a first, highly visible step on this journey, AddiFab has relocated to new and significantly larger facilities. The new headquarters – conveniently localized near Copenhagen airport, subway and highways – offer more than twice the space for growth. Lasse Staal explains: “At AddiFab, we are dedicated to supporting our customers in their implementations of Freeform Injection Molding. The new headquarters allow us to take this support to an entirely different level. Whether it be extensive feasibility studies, on-site R&D projects or deliveries of larger FIM system packages, we will be able to accommodate customer ambitions”.

With fresh funding and new headquarters, AddiFab is poised for rapid acceleration as the world moves out from under the shadow of COVID-19. Lasse Staal concludes: “The last year has demonstrated the importance of resilient supply chains that are easy to reconfigure and fast to scale up. With Freeform Injection Molding, we strike an ideal balance of flexibility and scalability, and we are eager to bring this powerful platform into the hands of even more high-performing teams”

About AddiFab:

AddiFab develops and delivers industrial-grade 3D-printers, post-processing equipment, software and materials to meet demands for better 3D-printed tooling. Freeform Injection Molding – the company’s flagship platform – combines the short lead-times, low start-up costs and design freedom from additive manufacturing with the scalability and wide range of materials from injection molding. This enables customers to dramatically shorten times-to-launch, increase customization levels and reduce supply chain complexity. AddiFab is headquartered in Taastrup, Denmark and has since 2019 also been operating out of its Palo Alto Office, Silicon Valley in the United States.

 

About West Hill:

West Hill Capital partners with passionate technology entrepreneurs and invest in what we believe are high growth businesses that can offer our investors an opportunity to achieve market leading returns. We look for an innovative product or service that can demonstrate a global application and hence significant scalability. We feel AddiFab exhibits all of these qualities and as such we are pleased to be with them on their journey. For more information on West Hill Capital, visit www.westhillcapital.co.uk

 

For more information, please contact Lasse Staal (AddiFab CEO), on lgs@addifab.com, +45 3211 9070

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