Venture Leaders Technology 2019 alum 9T Labs and ETH spin-off has sealed a seed funding series of $4.3 million. This is for the completion of the growth of their commercial additive manufacturing solution for carbon fiber composite pieces. It will also assist to improve the initial mass production use cases.
The funding comes in two years after the establishment of the firm by Martin Eichenhofer, and Giovanni Cavolina, Chester Houwink.
Their mission is: “make carbon fiber composite materials as accessible as ordinary metal materials”.
Carbon, or to be exact carbon-fiber-reinforced plastic (CFRP), is highly needed across many industries. This includes automotive, aerospace, biomedical to freedom, robotics and oceanic. This is because it is tougher than steel. But up to 5X lighter. Usage cases comprise mountain bikes, robots, formula 1 racing vehicles and also implants and medical prostheses.
Associated with steel and aluminum or, Carbon fiber composite portions are classy. This is because of the manufacturing method is expensive and time-consuming. Every part requires a distinct mold.
The size of the global market for Carbon composite materials is now across $80 bn. However as stated by specialists, it still lacks standardized software and automation solutions for mass production.
9T Labs that is on the Top 100 Swiss Startup ranking in 2019 and 2018 mixes improved software algorithms, post-processing, and additive manufacturing technology in a single workflow. This is in a way to make the supplies easily accessible and set for mass manufacturing.
Now the pieces are created on the machine created straight in the 3D printing machine. This novel procedure moves production costs and lead times dramatically.
Co-Founder & CEO Martin Eichenhofer traveled with the Swiss National Startup Crew, the Venture Leaders Technology to Silicon Valley past year: “The Venture Leaders Technology roadshow helps us to think bigger, which is now directly reflected in our strategy on how to grow 9T Labs to an international company.”
This $4.3 billion seed series comprises present investors about Wingman Ventures. It also includes new support from Technology Fund and Investiere. Also, 9T Labs is supported by the ESA BIC Switzerland program.