Huge news from Mosaic Manufacturing: they’ve raised a massive CAD$28M (US$20M) from investors.
The Toronto company has grown significantly since the early days when their only product was the Palette filament accessory. These days they’re more focused on industrial 3D printers for production applications.
Their high temperature Element 3D printer, installed within their Array system provides a very capable platform for production. The system includes significant automation and control, and is ideal to produce moderate quantities of parts almost continuously.
The capabilities of the Array/Element system are proving attractive to buyers, but apparently also to investors. The latest investment round seems to be the largest by far the company has received, and should provide them with the capability to do a lot more.
But what is “more”? Mosaic Manufacturing offered this:
“With this funding, Mosaic will be able to further extend its leadership position in this frontier space while expanding partnerships with customers looking to build future-ready sustainable supply chains.”
Mosaic Manufacturing CEO Mitch Debora explained:
“We’re proud to partner with our customers in building more resilient, sustainable supply chains powered by Mosaic’s Array. This funding enables us to expand our impact as we deepen our presence in factories across the globe”
To me it sounds like they will mostly focus on developing their sales and distribution networks to increase revenue, which is something a company should do once they’ve solidified their product technology.
There’s a huge opportunity here. The manufacturing is vastly larger than the prototyping market that is the traditional home for 3D printers. Mosaic Manufacturing’s strategy to develop an “all in one” manufacturing system could resonate with buyers and lead to a huge number of sales.
