Chinese 3D technology company Shining 3D announced to plan raising $ 70 million in funding for company merger and acquisition activities. Additionally, the company is about to invest $ 2.4 in the set up of a subsidiary in the US.
Founded in 2004, Shining 3D has specialised in 3D digitising technology, providing 3D scanners, 3D printers and services to sectors such as industrial manufacturing, bio-medical and education. With their headquarter based in Hangzhou, the company has set up branches in major Chinese cities like Shanghai, Beijing and Guangzhou.
Their US-subsidary will mainly focus on research and development, sales of 3D scanners and printers and seeking international advanced technology partners.
Shining 3D has introduced their desktop 3D scanner EinScan-S at the International CES in Las Vegas in January and launched a Kickstarter campaign shortly after.
According to the most recent earning data, Shing 3D reported a revenue of $ 20 million, an increase of over 25%, while recording a net profit of $ 1 million.
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