Wematter has raised €4 million through investments from existing owners and a direct new share issue.
Existing investors put forward €1.4m of the funding with new owners – major owners of Betsson and an AM industrialist among them – providing an additional €2.6m.
Wematter is using the funding to expand its sales, marketing and production teams with recent employments involving people experienced in scale-up companies and additive manufacturing. The company was founded in 2014 and is now made up of around 25 employees. Its Gravity 2021 SLS 3D printer was launched last year via a subscription offering and has attracted customers in the manufacturing and healthcare sectors.
In addition to the expansion of the Wematter team, the company is also expecting to invest in R&D, while also hinting at the possibility of becoming a publicly listed company in the future.
“I am personally proud that we attract people who have made the same journey in another Swedish company from our industry,” commented Wematter CEO Robert Kniola. “Among those we have met are 30 years of experience in 3D printers and additive manufacturing. It proves our attractiveness as a company, and it gives us excellent conditions to take the next step in our growth forward. We will now primarily use the funds to employ staff in sales and continue running research projects for new materials and other product development. We are also looking at efficiently scaling up our production process with external suppliers in order to be able to plan for the long term.”
“For many within the Swedish industrial sector, it’s been a challenge to raise venture capital during the current pandemic, but I believe that we succeed by offering a sustainable product together with long-term business relationships,” added Håkan Dahllöf, Wematter’s Chair of the Board. “We can therefore now welcome new investors who also see a company with a product and an offer that makes a difference for our customers. The issue enables a market introduction and a production start-up, which together with broader ownership, paves the way for an upcoming listing.”
Want to discuss? Join the conversation on the Additive Manufacturing Global Community Discord.
Get your FREE print subscription to TCT Magazine.