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Investment in the 3D printing industry continues apace with news that Carbon has raised over $260 million in growth funding.
The latest funding round was co-led by Madrone Capital Partners and Baillie Gifford and attaches a new valuation north of $2.4 billion to the Silicon Valley 3D printing company.
Menlo - Park - California - Madrone - Capital
Menlo Park, California based Madrone Capital Partners is known for a long-term investment philosophy and links with Rob Walton – whose family co-founded the largest retailer in the world, Walmart.
Most recently Carbon was the winner of the 2019 3D Printing Industry Awards consumer product category for the Carbon & adidas Futurecraft4D 3D printed sneaker midsoles.
ZX - Shoes - Carbon - Midsole - Image
The ZX 4000 4D shoes featuring a Carbon 3D printed midsole. Image via Adidas.
The latest funding round brings total investment received to more than $680 million. Since 2014, five rounds have taken place. Investors include global financial institutions such as Baille Gifford and Fidelity Management & Research. Venture Capital firms supporting Carbon include Silver Lake Kraftwerk, Reinet Investments, Northgate Partners, Piedmont Capital Partners, Wakefield Group, Eshelman Ventures, Sequoia Capital, and the aforementioned Madrone Capital Partners.
Round - Investors - Temasek - Government - Singapore
This most recent round was joined by new investors Temasek, owned by the Government of Singapore, and Arkema, the global chemicals company listed in Paris. Participation also came from existing investors including Sequoia Capital, Johnson & Johnson Innovation – JJDC, Inc. (JJDC), Fidelity Management & Research Company, adidas Ventures, and JSR Corporation.
Peter Singlehurst, Investment Manager at Baillie Gifford, commented, “At Baillie Gifford, we seek to invest in companies capable of delivering transformational growth over the long term.”
COMBINATION - OF - TECHNICAL - AND - BUSINESS
“THROUGH A COMBINATION OF TECHNICAL AND BUSINESS MODEL INNOVATION, CARBON IS DELIVERING ON THE PROMISE OF ADDITIVE MANUFACTURING, AND IN THE PROCESS GROWING RAPIDLY INTO AN ENORMOUS OPPORTUNITY. THE THOUGHTFUL WAY IN WHICH THE TEAM AT CARBON IS BUILDING THE COMPANY AND THE STRONG EMPHASIS ON THE...
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