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23 Feb Newly closed funding enables Polymaker to accelerate its growth & global expansion
February 23, 2017 – Polymaker announced the close of a new round of equity funding totaling $5 million USD, led by a leading venture capital (VC) firm in China. This marks the Shanghai-based 3D printing materials company’s second round of VC funding, following their Round-A in early 2015 from LegendStar, an affiliate of the IT giant Lenovo.
Polymaker reported very healthy, market-driven growth in 2016, with over 200% increase in revenue compared to the previous year. This was clearly a reward to the company’s dedication to innovation, quality, and only delivering the best 3D printing materials to its global customers. The Polysher™ and PolySmooth™, the two new products that Polymaker introduced in 2016 via a highly successful Kickstarter campaign, enable for the first time high quality, layer-free prints to be obtained effortlessly and cost-effectively using extrusion-based 3D printing technologies. This is one of the many examples of Polymaker’s technological innovations, which enable the company to penetrate into a variety of industrial markets.
The newly raised funding will be used to expand Polymaker’s manufacturing capacity, as well as to fuel the R&D of next-generation products, while developing new applications and supporting the company’s customers worldwide. “Our customer base ranges from hobbyists to the most advanced industrial customers in the world and the funding allows us to exceed expectations to our global customers’ business needs” says Dr. Xiaofan Luo, the President of Polymaker. According to Dr. Luo, Polymaker is planning to launch a variety of new products to the market this year, with major announcements expected in the coming months.
In addition to the new funding, Polymaker has also announced the appointment of Jeffrey L. Walters as Vice President of Business Development – Americas. Jeff, being a veteran of 3D printing with over 6 years of leadership experience within the industry, brings a wealth of knowledge in the global filament market for Polymaker and is one of the leading experts within the entire 3D printing industry. The appointment of Jeff is very exciting for the global efforts at Polymaker and allows the company to better serve customers across the Americas for their growing material needs.
” Polymaker is known throughout the entire industry as a leader in quality, service, and performance of their 3D Printing Filaments. We expect to grow significantly by delivering more than what is expected as a proper business partner, industry consultants, and deliver the highest standards of quality in the manufacturing process. We believe our filament portfolio and its overall performance will challenge the market standards and will be refreshing for its global users.” – Jeffrey L Walters, Vice President of Business Development
Prior to joining Polymaker, Jeff served as Vice President of Business Development at Toner Plastics for 4 years, and spent 18 years at Enterprise Holdings (the parent owner of the Enterprise, Alamo and National rent-a-car brands) in numerous leadership roles at the corporate offices and in field locations. Jeff is a graduate of Elon University and lives with his family in Hilton Head Island, South Carolina.
Polymaker is a company committed to innovation, quality and sustainability, in the pursuit of producing high-quality materials for the 3D printing industry. Headquartered in Shanghai, China, Polymaker now has global offices in the USA, Netherlands and Japan. With their a state-of-the-art manufacturing center and market leading quality control process, Polymaker’s filaments are not only ensured to have the best quality standards but also provide innovative properties. Whether it is with their layer free post processing, unparalleled Jam-Free™ printing or the world’s first, 3D printable foam based filament, Polymaker will continue to bring new performance enhanced materials to the 3D printing community.