Investment to Accelerate Rapid R&D and Global Expansion
WOBURN, Mass. February 12, 2019 – RIZE Inc., a Boston, USA-based, next-generation additive manufacturing company, announced today that it has received $15M in Series B funding from Innospark Ventures, Sparta Group LLC, Converge and Dassault Systèmes to propel R&D and expansion of RIZE additive manufacturing solutions worldwide. The new investors join existing investor, Longworth Venture Partners.
“Our strategy is to expand the adoption of industrial 3D printing. This funding by a deeply respected group of diverse global investors validates our approach to make it a mainstream application within the enterprise,” said Andy Kalambi, President and CEO of RIZE. “It is gratifying that our investors share our values of inclusive and sustainable innovation by making industrial 3D printing safe, easy and affordable. With the support of our investors, we will expand the usage of industrial 3D printing across all the functions: design, engineering, manufacturing, supply chain and service.”
“The Additive Manufacturing industry is poised for massive growth,” said Venkat Srinivasan, Managing Director of Innospark Ventures. “We invested in RIZE based on their unique value proposition of scaling 3D printing across the enterprise by making it easy and safe, and extending it to become an intelligent platform for delivering intelligent parts. The RIZE leadership team is experienced and proven in building large businesses, supported by a great technical team, and has impeccable references from their current customers and partners.”
RIZE Inc. is a Boston, USA-based, next-generation additive manufacturing company defining Desktop Industrial 3D Printing. RIZE released its first product, RIZE™ ONE, which is winning industry and customer accolades. Prestigious organizations like NASA, US Army, US Navy and Merck have chosen the product for supporting their additive manufacturing needs.
RIZE’s unique patented Augmented Deposition technology, combining material extrusion and material jetting, is an industry breakthrough. With this technology, RIZE delivers industrial-strength parts with zero labor applied to post processing, complete authentication and trust by printing text, images and QR codes. RIZE also delivers materials that are safe and recyclable. RIZE ONE, the first product based on this technology, released in 2017, is now in operation at several customer sites across the world, and XRIZE, released in late 2018, is the world’s first full color Desktop Additive Manufacturing platform.
RIZE additive manufacturing solutions combine simplicity, speed, safety, strength and security, all at the most competitive price point in the industry. For more information, visit www.rize3d.com.
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