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Shapeways, a NYC–based 3D-printing company, is set to go public via SPAC on Thursday. Its expected valuation is $605 million, and it has raised $107.5 million since its founding back in 2007.
Why this matters: Shapeways and other 3D-printing-based manufacturers are unique compared to traditional industrial manufacturers, which rely on mass production via cast molds and fixed specifications; 3D-printing allows manufacturers to use only the materials needed to make a given part or product, granting flexibility to make changes to product molds.
- But 3D printers can’t produce at the same scale or speed as traditional methods, making them more of a complement than replacement.
“Customers use us to upload a digital file and get physical production completed within days,” Shapeways CEO Greg Kress told Emerging Tech Brew. “We work directly with those engineers, whether they’re in large companies or individual engineers or consulting firms, they use Shapeways for transitioning that digital design into the physical product.”
Kress said Shapeways provides access to 11 different hardware technologies, including 3D printing and injection molding, 90 different materials and finishes, like plastics and precious metals, and has produced more than 21 million individual parts, from knee braces to auto parts. Kress said the company is focused on four areas as it grows:
- Expanding its manufacturing capabilities, including new hardware tech and new materials and finishes.
- Building out its go-to-market strategy.
- Offering additional and traditional services like injection molding and sheet-metal casting through outsourced supply chain partners.
- Monetizing and licensing its 3D-printing software.
Zoom out: Desktop Metal, which builds and sells 3D printers to heavy industry companies like Volkswagen and Georgia-Pacific, also SPAC’d, in December 2020, at a $2.5 billion valuation.—JM