Eight L-PBF systems (from Velo3D and AddUp) and one EBM system up for sale as the company scales down industrial operations.
Zeda is putting $20 million worth of 3D printers up for auction. That’s four Velo3D Sapphire systems (including two large XC machines), four (out of eight) Addup FormUp 350 systems, and one Arcam Q10 from GE Additive (now Colibrium Additive). The company is also getting rid of multiple CNC machines and other industrial manufacturing equipment from its Springdale (OH) facility, near Cincinnati. This is a major scale-down for Zeda, which had recently implemented a major scale-up program supported by over $50 million in new funding.
The Series B round included the participation of multiple new institutional and strategic investors, including Michelin and Fives Group (which explains the significant investment on AddUp machines) and Taiyo Nippon Sanso Corporation (a Mitsubishi Chemical Group company). It was jointly led by existing investors – Boutique Venture Partners, Berkeley Catalyst Fund, DOV Management, and Solvay Ventures.
Zeda was formed after PrinterPrezz, Inc. and Vertex Manufacturing completed the merger between the companies, both active in the advanced manufacturing sector. The new company under PrinterPrezz was rebranded as Zeda. It grew exponentially, organically, and with the help of strategic acquisitions. Vertex, which was one such acquisition, was founded and led by manufacturing pioneer Greg Morris (which also had a role as a Strategic. Consultant in the new company). After all the mergers, Zeda now had 140,000 square feet across multiple advanced facilities in Silicon Valley, California, New Jersey, Ohio, and Singapore.
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