Inkbit Secures $12 Million in Equity Financing to Expand 3D Printable Materials Using Machine Vision and Machine Learning

VCBeat (WeChat ID: vcbeat) learned from Business Wire that on November 4, 2019, local time, 3D printing company Inkbit announced the completion of a $12 million equity financing round. The round was led by Stratasys and DSM Venturing, with participation from Ocado, 3M, and Saint-Gobain.

It is reported that the proceeds from this funding round will be used to industrialize Inkbit’s additive manufacturing systems, meeting its requirements for multi-material and mass production. Additionally, Inkbit will expand its material portfolio for applications in healthcare, life sciences, and robotics, and install its first batch of products for customers.

Inkbit is dedicated to eliminating the existing barriers between prototyping and manufacturing to enable rapid, on-demand production of multi-material, end-use products. Leveraging computer science to enhance manufacturing, Inkbit has developed the first 3D printer powered by machine vision and artificial intelligence, meeting the demands of mass production for speed, precision, and reliability. Headquartered in Medford, Massachusetts, Inkbit is a 2017 spin-off from the MIT Computer Science and Artificial Intelligence Laboratory (CSAIL).

Inkbit’s inkjet technology is described as a 3D printer “with eyes and a brain,” capable of understanding the characteristics of the 3D printing process and predicting material behavior. By leveraging machine vision and machine learning, this approach will enable rapid expansion of the range of materials compatible with 3D inkjet printing.

Davide Marini, Co-founder and CEO of Inkbit, stated, “We are thrilled to partner with such an outstanding team of industry leaders and are deeply impressed by their entrepreneurial spirit and commitment to innovation. This financing round is aimed at maximizing the speed of development and commercialization of our platform. Each investor brings valuable expertise in equipment manufacturing, high-performance materials, robotics, medical devices, and life sciences. We aim to integrate machine vision and machine learning layers into our material jetting technology, thereby enhancing its accuracy and reliability for production-grade materials.”

Leveraging its multi-material PolyJet technology, Stratasys has developed a distinct symbiotic relationship with Inkbit. “As a pioneer in jetting-based additive manufacturing solutions, we are delighted to help Inkbit bring its technology to the factory floor,” said Ronen Lebi, Vice President of Development at Stratasys.

Pieter Wolters, General Manager of DSM Venturing, stated, “Materials have always played a crucial role in the industrialization of breakthrough technologies and in additive manufacturing. We are delighted to include Inkbit in our portfolio and look forward to helping them develop the best materials for customers worldwide.”

It is understood that Inkbit has begun collaborating with customers such as Johnson & Johnson through an early access program to develop a suite of initial applications. The company plans to release its first systems in 2021. The machines developed by Inkbit will feature mass production capabilities, higher accuracy, and automated quality assurance for printed parts.

Following this round of financing, Guy Menchik, Vice President of R&D at Stratasys; Luda Kopeikina, Director at DSM Venturing; Paul Clarke, Chief Technology Officer at Ocado; and Magnus René, CEO of Ovzon and former CEO of Arcam, will join Inkbit’s Board of Directors.

Stratasys is a manufacturer of additive manufacturing machines for prototyping and producing plastic parts. The company holds over 285 approved or pending additive manufacturing patents worldwide. Stratasys products are used in the aerospace, defense, automotive, medical, commercial and industrial equipment, education, architecture, and consumer goods industries.

DSM Venturing is an active investor in emerging companies, with a primary focus on startups in the life sciences sector. Since its establishment in 2001, DSM Venturing has served as the outside-in branch of open innovation methods and has invested in more than 50 emerging innovative companies in the United States, Europe, and Israel.

(Compiled by Xiong Hui)