Chromatic 3D Materials, a provider of additive manufacturing technologies, has raised $3.1 million in an oversubscribed pre-funding round. More than half of the funds came from new investors.
These funds will allow the company to further develop its technology, scale production, expand sales and technology teams, and advance research and development in collaboration with transportation and defense partners.
“The success of our pre-financing round shows intense confidence in our business even amid a tough investment climate. We are pleased to see such a positive response from investors who share our vision of transforming manufacturing and supply chains with our adaptable printing system and industrial-grade materials,” said Cora Leibig, founder & CEO.
In the coming months, Chromatic plans to expand its organization by approximately 35% to accelerate and expand commercialization. The company is currently actively recruiting software developers and additive manufacturing engineers in both the U.S. and Germany. In parallel, the sales team is also being strengthened.
Chromatic is currently in the early revenue stage and plans to raise another round of financing later this year.