The company's platform enables innovation with additive manufacturing by shortening design time and optimizing part geometry.
TORONTO, ON / ACCESSWIRE / July 18, 2023 / Metafold, the only provider of a cloud- and API-based 3D engineering platform, today announced it has raised $1.78 million USD in seed funding to advance the mass adoption of industrial 3D printing, with sustainability at the forefront of its mission. Differential Ventures led the oversubscribed investment round, with participation from Active Impact Investments, who led the company's pre-seed round, climate-tech focused Jetstream, and Standup Ventures.
Traditional desktop computer aided design (CAD) and engineering (CAE) software was developed for traditional manufacturing methods and relies on every engineer having access to an expensive, high-performance workstation. Meanwhile, 3D printing has unlocked new opportunities to innovate with complex shapes not possible to manufacture with traditional methods. This gap between 3D printing hardware capabilities and the software to take advantage of all their potential has prevented wide usage and adoption of 3D printing for production applications.
In response, Metafold has developed an ultra-precise, lightning-speed geometry computation engine for outputting accurate designs for 3D printing complex parts. Metafold's cloud-based SaaS platform is accessible on any device, making it fast and easy for design and engineering teams to produce optimized parts with the Metafold web application or leverage the Metafold Engine API to build their own custom tools and integrations. Through this advanced geometry support, Metafold enables manufacturers to use less raw material and produce lighter, more efficient parts which use less energy-both of which contribute to helping customers achieve their sustainability goals.
"Sustainability in manufacturing is ultimately driven by two factors-improving the material consumption of existing fabrication methods and designing for optimality over the lifetime use of manufactured goods," says mathematician Dr. Elissa Ross, co-founder and CEO of Metafold. "3D printing achieves those goals and has the potential to be even more impactful with the right digital infrastructure. We're excited to be backed by investors who recognize both the commercial and climate benefits of scaling this extraordinary manufacturing methodology."
The funding comes as Metafold has gained rapid traction within a number of key markets such as biotech and sportswear, supporting its customers' need to design, test, and produce highly optimized structures. Metafold exists to help the world's most innovative manufacturing brands leverage additive manufacturing to accelerate their speed of design and production of end-use parts.
"Metafold's technology will be game changing for designing and visualizing complex structures in 3D printing, making currently impossible designs possible," shared David Magerman, founding partner at Differential Ventures. "Co-founders Elissa, Daniel, and Tom are a great team to bring this product to market."
The company intends to use the funds to deepen its first principles approach to solve the toughest geometry problems holding back 3D printing from mainstream adoption. To learn more, visit www.metafold3d.com.
ABOUT METAFOLD:
Metafold is the leading developer of Design for Additive Manufacturing (DfAM) cloud-based software, advancing the mass adoption of 3D printing with sustainability at the forefront of its mission. Metafold's platform offers large-scale manufacturers the world's fastest geometric engine, huge lattice library, and unmatched direct-to-print capabilities helping teams to imagine, design, and produce 3D parts faster. Metafold's platform is available for free for single users or paid subscriptions for teams and enterprises. For more information, visit https://www.metafold3d.com.
PR Contact:
Lauren Gill
978-473-1362
lauren@mooringadvisorygroup.com
SOURCE: Metafold
View source version on accesswire.com:https://www.accesswire.com/768330/Metafold-Secures-178M-To-Advance-Mass-Adoption-of-Industrial-3D-Printing
