Dutch 3D-print startup 3D Hubs has secured its biggest financing round yet with an investment of US$7 million. The shiny new pan-European venture capital fund EQT Ventures, which recently launched a €566 million fund, is the biggest participant and lead investor in this Series B financing round, which also involves previous investor Balderton Capital.
3D Hubs, a community for 3d printing, also announced the amount of printers connected to their network has increased to a whopping 33.000, several media reported. 3D Hubs connects owners of 3D-printers with people who do not have a 3D-printer but would like to use one. Altogether the company now has printers connected to their network in over 160 countries. All up these printers produce more than 40.000 3D-prints per month.
Funding to date
With the addition of their Series B, 3D Hubs has raised $11.5 million in funding to date. The company will use its new financing to continue making it easier for professionals to access local 3D printing services via an on-demand, online platform. Their previous financing round, also including Balderton Capital, dates back to September 2014. Back then the company secured $3,4 million. Since then 3D Hubs has grown by 1200%.
According to CEO and founder Bram de Zwart the company will mainly use the funding to increase the quality of their network. 3D Hubs was founded by de Zwart together with Brian Garrett in 2013. The duo started out with just ten 3D Printers.
Fortune 100 companies
With 16 Fortune 100 companies currently utilizing 3D Hubs for solutions across the automotive, aerospace, healthcare industries, and more, 3D Hubs can definitely say it’s entitled to claim it is working on the future of 3D printing technology. By connecting 3D printing services from all over the world into one user platform, 3D Hubs wants to build a solution for global industry professionals in varying business size.
“We were inspired by the profoundly positive impact that online marketplaces have had on many industries, and we wanted to establish that same marketplace for 3D printing,” said Bram de Zwart, CEO and cofounder of 3D Hubs. “Our team of investors has a deep understanding of online marketplace dynamics. EQT has joined us in our mission to decentralize manufacturing.”
“Only the beginning”
“We’ve only seen the beginning of what 3D printing will offer, and 3D Hubs is by far the most well-positioned company we’ve encountered in this space. We are very impressed with what Bram, Brian and the rest of the team have managed to build in just under 3 years, so when EQT Ventures was invited to support their future journey we didn’t hesitate,” said Ted Persson, Design Partner at EQT Ventures, who will join 3D Hubs Board of Directors.