Kumovis closes Series A funding led by RENOLIT and Solvay
3D printing system developer to enter new markets, accelerate growth, and enable medical device manufacturers to leverage the full potential of high-performance polymers
Munich, May 28th, 2020 – Kumovis, the developer of the world’s first 3D printer with clean room integration, today announced that it has raised a €3.6 million Series A funding round. In RENOLIT SE and Solvay Ventures, the Munich-based start-up has found two additional partners on its way to establish industrial additive manufacturing systems for processing high-performance polymers. Both its seed investors, namely High-Tech Gründerfonds and Ffilipa Venture Capital, participated in this round too.
“From the very beginning of our business venture, we have set ourselves the goal to enable medtech companies and hospitals alike to process high-performance polymers, and consequently 3D print medical products of nearly any kind,” said Stefan Leonhardt, co-CEO and co-founder of Kumovis. “The launch of the Kumovis R1 3D printer in 2019 pushed additive manufacturing with medical polymers to the next level regarding mechanical properties, aesthetics, reproducibility and usability. We are convinced that the partnerships with RENOLIT, a leader in polymer-based medical device components, and Solvay, a world leader in high-performance specialty polymers, will strengthen our business case and accelerate the sustainable development of Kumovis. We will use the investments to enter new markets, further develop our technology and help the medical community bring 3D-printed medical products to the patient.”
Decentralization to shorten supply chains
Production capacities decentralized by using 3D printing technologies are shortening supply chains – and as a result, the medical community could reduce the time to patient. “The flexibility of the Kumovis R1 system, which fulfills medical manufacturing requirements, is particularly advantageous to manufacturers dealing with small-series production and patient-adapted products. By providing an open materials 3D printing system capable of processing a variety of thermoplastic polymers, we enable our customers to not only produce on-demand but also to 3D print end-use parts at the point of care. At Kumovis, we are looking forward to taking the next steps together with our strong partners,” added Dr Miriam Haerst, co-CEO and co-founder of Kumovis.
Stéphane Roussel, Managing Director of Solvay Ventures, said: “Its impressive team, its product quality and performance attributes give us confidence that Kumovis is poised to disrupt traditional manufacturing methods in the demanding medical industry. By accelerating the transition to personalized medicine, Kumovis and Solvay will expand together the application space for high-performance specialty polymers in healthcare, and have the potential to do so in other industries as well.” Thomas Sampers, who is heading RENOLIT Healthcare, confirmed: “This investment is a major step for RENOLIT Healthcare fostering its innovative dynamics towards health together with partners by reinforcing its presence in polymer-based healthcare devices.”
Besides further improving its R1 3D printer and continuing growing the team, Kumovis partners with both technology and material companies to keep the ecosystem for medical 3D printing growing up. The start-up and medical device manufacturers are moreover working in close collaboration to advance medical products for healthcare.
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Kumovis got its start in 2017 by alumni in fields ranging from medical technology to polymer engineering, who originally founded the company as a spin-off of the Technical University of Munich. The start-up is enabling the medical community to process high-performance polymers in a reproducible as well as regulatory compliant way, and consequently adopt additive manufacturing for healthcare wherever it is needed. In 2019, Kumovis has released the R1 3D printer introducing the concept of an industry-specific system for decentralized clean room production to the market. Besides receiving support from investors, the start-up has been participating in incubation programs such as EXIST Transfer of Research and ESA BIC Bavaria.
About High-Tech Gründerfonds
High-Tech Gründerfonds (HTGF) is a seed investor that finances high-potential, tech-driven start-ups. With around EUR 900 million in total investment volume across three funds and an international network of partners, HTGF has already helped forge almost 600 start-ups since 2005. Driven by their expertise, entrepreneurial spirit and passion, its team of experienced investment managers and startup experts help guide the development of young companies. HTGF’s focus is on high-tech start-ups in the fields of digital business models, industrial technology, life sciences, chemistry and related business areas. To date, external investors have injected over EUR 2.5 billion into the HTGF portfolio via more than 1,600 follow-on financing rounds. HTGF has also successfully sold interests in more than 100 companies.
Investors in the public-private partnership include the Federal Ministry of Economics and Energy, KfW Capital, the Fraunhofer-Gesellschaft and 32 companies.
About Solvay Ventures
SOLVAY VENTURES is the Venture Capital fund of Solvay, investing in breakthrough technologies in advanced materials and formulations. Operating since 2005, Solvay Ventures currently invests out of a €80m global evergreen fund. Solvay Ventures targets early stage investment opportunities (Seed through Series B) with a focus on startups solving problems in sustainable resources, energy transition, increased wellbeing, and digital age. Beyond capital, Solvay Ventures leverages the resources at Solvay to accelerate technology and market adoption.
About RENOLIT SE
The RENOLIT Group is a globally active specialist for high performance polymer films, sheets and other plastic products. With more than thirty sites and sales units in over twenty countries, and with annual sales of EUR 1,059 billion in fiscal year 2019, the company with headquarters in Worms – around 70 km South of Frankfurt-am-Main – is one of the world’s leading plastics product manufacturers. More than 4,800 employees continue to further develop the knowledge and expertise gained from over seventy years of business.