Mantle Announces $20M Funding Round

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Exciting news from Mantle! The innovative metal 3D printer manufacturer has announced a successful $20 million Series C funding round, led by Schooner Capital and supported by significant existing investors. This fresh infusion of capital brings Mantle’s total funding to over $61.5 million, reinforcing its goal to revolutionize the global tooling industry. The funds will be used to scale up production, meet the growing market demand, and enhance their groundbreaking TrueShape manufacturing platform. With key customers like Heyco Products, General Pattern, and Westminster Tool already reporting significant reductions in lead times and costs, the future looks bright for Mantle’s cutting-edge technology. Have you ever wondered how technology can alleviate severe industry labor shortages or make production faster and cheaper? Well, Mantle has just made a significant leap towards addressing such challenges. Let’s dive into the details of their latest milestone.

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Table of Contents

Mantle Announces $20M Funding Round

Mantle, a prominent metal 3D printer manufacturer, has successfully raised $20 million in its latest Series C funding round. This new injection of capital brings Mantle’s total funding to over $61.5 million. The funds will be crucial for the company’s rapid market expansion, scaling their manufacturing processes to meet growing demand, and developing new capabilities and materials.

Investors and Their Roles

Led by the Boston-based private investment firm Schooner Capital, this funding round also saw participation from Mantle’s largest existing investors. These included 11.2 Capital, Build Collective, Corazon Capital, Fine Structure Ventures, and Foundation Capital. Alexandra Manick, Principal of Schooner Capital, emphasized the transformative potential that Mantle has in revolutionizing the global tooling industry.

Key Investors:

Investor Name	Role
Schooner Capital	Lead Investor
11.2 Capital	Participating Investor
Build Collective	Participating Investor
Corazon Capital	Participating Investor
Fine Structure Ventures	Participating Investor
Foundation Capital	Participating Investor

Why is This Important?

The manufacturing industry is facing a serious labor shortage, especially for skilled tradespeople and toolmakers. Automation and advanced technology are pivotal in addressing this shortage. Mantle’s advanced manufacturing platform, TrueShape, offers significant cost savings and unparalleled speed, making it an attractive solution for manufacturers.

Addressing Labor Shortages in Toolmaking

The manufacturing sector is grappling with an acute shortage of skilled labor due to an aging workforce and high demand. To mitigate this challenge, many companies are adopting Mantle’s TrueShape technology. Mantle revealed that they have expanded their customer base in the tooling sector, securing clients like DuPont’s subsidiary Spectrum Plastics Group, Heyco Products, and General Pattern.

Notable Customers:

Customer Name	Application Area
Spectrum Plastics Group	Subsidiary of DuPont
Heyco Products	In-house molding and toolmaking
General Pattern	Production tools with reduced lead times
Westminster Tool	Complex mold inserts production

Remarkable Case Studies

Mantle has also published case studies that showcase the effectiveness of its technology in simplifying the toolmaking process. For instance, Westminster Tool was able to cut traditional lead times by 50% using Mantle’s 3D printers. Further, Nicolet Plastics and Westec Plastics, both significant players in the medical device market, reported substantial reductions in production time and labor costs.

Case Study Highlights:

Company	Time Saved	Labor Cost Reduced
Nicolet Plastics	180 hours to 12.5	Halved
Westec Plastics	40 hours to 10	Halved

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The Growth of Metal 3D Printing in Tooling

Mantle is perfectly poised for burgeoning demand for high-quality molds used in mass production. Their advanced metal 3D printing solution addresses the limitations found in conventional methods, offering faster, cheaper, and more precise tooling options.

Other Players in the Market

Mantle is not the only company making strides in metal 3D printing for tooling applications. French firm AddUp has also launched a new AISI 420 steel material, ideal for complex mold production. BASF’s 3D printing division Forward AM introduced a new metal filament, Ultrafuse 17-4 PH, engineered for tooling applications in a cost-effective and safe manner.

Market Comparisons:

Company	New Material/Technology	Application
AddUp	AISI 420 Steel	Tooling Applications
Forward AM (BASF)	Ultrafuse 17-4 PH Metal Filament	Tooling Applications

Future Prospects

What does the future hold for 3D printing, especially in the realm of metal AM? As the technology continues to evolve, it will likely further disrupt traditional manufacturing processes, making them more efficient and cost-effective. The emphasis will shift toward minimizing the need for highly specialized labor, thus opening doors for more widespread adoption across various industries.

Stay Updated with Industry News

Keeping abreast of the latest developments in the 3D printing industry can offer invaluable insights into where the market is headed. Whether it’s breakthrough technologies, significant funding rounds, or market expansion stories, staying updated ensures you’re always in the loop.

Ways to Stay Updated:

Newsletter: Subscribe to the 3D Printing Industry newsletter.
Social Media: Follow industry leaders on Twitter and like their Facebook page.
YouTube: Subscribe to the company’s YouTube channel for in-depth discussions, debriefs, and expert interviews.

What’s Next?

Mantle’s $20 million funding round is just the beginning. With a growing customer base and a highly advanced technology stack, Mantle is poised to revolutionize the tooling industry. If you want to join the conversation about this transformative technology, consider registering for upcoming events or participating in industry webinars.

Join the Expert Committee

Do you want to have a direct impact on awarding the top achievements in the 3D printing industry? Join the Expert Committee for the 2024 3D Printing Industry Awards. Help select the winners and get insights into the newest trends anticipated for the upcoming year.

Conclusion

Mantle’s $20 million Series C funding round is a significant milestone, not just for the company but for the entire 3D printing and manufacturing sector. By addressing labor shortages and enhancing production efficiency, Mantle’s advanced technology is set to make substantial changes in how tools are produced worldwide. With strong backing from prominent investors and a growing list of satisfied customers, the future looks incredibly bright for Mantle and the 3D printing industry.

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