- Mantle secures $20 million in Series C funding to expand metal 3D printing technology for precision tooling
- The funding round led by Schooner Capital and joined by existing investors will support market expansion and scaling of manufacturing
- Mantle’s advanced manufacturing platform, TrueShape, aims to revolutionize the global tooling industry
- Heyco Products, a US-based manufacturer, benefits from Mantle’s technology to reduce time to market and enhance toolroom efficiency
- The global demand for moulded parts and toolmaking is increasing, driving manufacturers to seek innovative solutions like Mantle’s metal 3D printing technology
Mantle Bags $20M in Series C Funding to Expand Metal 3D Printing Technology
Metal 3D printing technology has been gaining significant traction in various industries due to its ability to revolutionize manufacturing processes. Mantle, a specialist in metal 3D printing technology for precision tooling, has recently secured $20 million in Series C funding, bringing its total funding to over $61.5 million. This funding round will play a crucial role in expanding Mantle’s market reach, scaling up manufacturing operations to meet growing demand, and advancing the development of new capabilities and materials.
Series C Funding Round Led by Schooner Capital
The Series C funding round was led by Schooner Capital, a prominent private investment firm based in Boston. Along with Schooner Capital, Mantle’s largest existing investors, including Fine Structure Ventures, Foundation Capital, Corazon Capital, 11.2 Capital, and Build Collective, also participated in the funding round. Alexandra Manick, Principal of Schooner Capital, expressed confidence in Mantle’s potential to disrupt the global tooling industry with its advanced manufacturing platform, TrueShape. She highlighted the significant cost savings and unprecedented speed that Mantle’s technology offers to customers, positioning the company as a game-changer in the industry.
Mantle’s Response to Industry Challenges
The global supply chain disruptions and skilled labor shortages have prompted manufacturers to seek innovative solutions to enhance productivity and reduce lead times. Ted Sorom, CEO and Co-founder of Mantle, emphasized the pressing need for transformative technologies in the toolmaking sector. He noted the shrinking toolmaking workforce in the US and the escalating costs associated with constrained toolmaking capacities, driving manufacturers to adopt cutting-edge solutions like Mantle’s metal 3D printing technology. Mantle’s approach aims to address these challenges by enabling customers to streamline their manufacturing processes, cut expenses, and accelerate product development timelines effectively.
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Customer Success Stories: Heyco Products
Heyco Products, a leading US-based manufacturer of wire protection products and electrical components, is among the companies that have leveraged Mantle’s technology to enhance their in-house moulding and toolmaking capabilities. Danny Anthony, Heyco’s Vice President of Operations, shared insights into their decision to integrate Mantle’s system into their operations. Anthony highlighted the key benefits of adopting Mantle’s metal 3D printing technology, including a significant reduction in time to market for new products and improved efficiency in the toolroom. By empowering their toolmakers with the latest technology, Heyco has not only accelerated product development but also attracted a new generation of talent to their organization.
Mantle’s successful Series C funding round signifies a significant milestone in the advancement of metal 3D printing technology for precision tooling. With the support of investors and the industry’s growing demand for innovative manufacturing solutions, Mantle is well-positioned to drive further disruption and transformation in the tooling sector. As more companies recognize the benefits of metal 3D printing for improving efficiency, reducing costs, and accelerating product innovation, Mantle’s contributions are poised to shape the future of manufacturing in a profound way.
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