Carbon, a provider of high-tech 3D printing services, has closed on a $260 million Series E round that has taken its post-money valuation to nearly $2.4 billion, Forbes reported yesterday.
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Madrone Capital Partners and UK-based Baillie Gifford led the round, which also included participation from Sequoia Capital, Temasek Holdings, Johnson & Johnson Innovation, adidas Ventures, and others.
Co-founded in 2013 by Joseph DeSimone and Philip DeSimone, Carbon has now raised a total of $682 million, according to its Crunchbase profile. Its last raise was a $200 million Series D in December 2017 that valued the company at $1.7 billion, post-money.
In a press release, Carbon said it plans to use the new capital “to expand R&D efforts” with the establishment of its first Advanced Development Facility (ADF), and to fuel international growth and expansion in Europe and Asia. The new facility “will enable Carbon’s engineering teams to improve Carbon’s platform and workflows in scaled-up manufacturing environments to better support its customers and partners,” the company said.
The 400-person company also said it will use the funds to invest in its ongoing development of recyclable and biocompatible materials and to accelerate the expansion of its software capabilities.
Sequoia Capital Partner Jim Goetz said in the release that Carbon “has cracked the code on 3D printing at scale,” pointing to the fact that it’s been able to bring products to market with companies such as adidas, Ford, and Lamborghini.
In fact, according to Forbes, Joseph DeSimone wore one of such products, “black Adidas Alphaedge 4D running shoes with light green midsoles 3-D printed in partnership with his company,” to a recent meeting with the publication.
Illustration: Li-Anne Dias
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