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More news from SOLIDWORKS World as Boston headquartered 3D printer OEM RIZE Inc. announces the successful raising of $15 million in series B funding. The money was contributed by four new partners: Boston VC Innospark Ventures, Gururaj ‘Desh’ Deshpande’s private investment company Sparta Group LLC, tech investment specialist Converge and leading 3D software company Dassault Systèmes. Funds raised will contribute to RIZE’s continued development and marketing of Augmented Polymer Deposition (APD) technology, through the RIZE ONE and XRIZE systems, with the aim of increasing industrial adoption of 3D printing.
Andy Kalambi, President and CEO of RIZE, comments, “This funding by a deeply respected group of diverse global investors validates our approach to make it a mainstream application within the enterprise. It is gratifying that our investors share our values of inclusive and sustainable innovation by making industrial 3D printing safe, easy and affordable.”
SUPPORT - OF - OUR - INVESTORS - WE
“WITH THE SUPPORT OF OUR INVESTORS, WE WILL EXPAND THE USAGE OF INDUSTRIAL 3D PRINTING ACROSS ALL THE FUNCTIONS: DESIGN, ENGINEERING, MANUFACTURING, SUPPLY CHAIN AND SERVICE.”
Dassault’s involvement with this series funding is of particular interest as the two companies have been working closely over the past 15 months or so. In February 2018 Dassault announced a Rize 3D Print add-in for its SOLIDWORKS software. Following that, almost one year later, RIZE announced a distribution partnership with Instadesign Group a Certified Solution Reseller of the SOLIDWORKS platform.
Kalambi - RIZE - President - CEO - November
Kalambi, who joined RIZE as President and CEO in November 2017, is also the former Global Vice President of Dassault’s 3DEXPERIENCE Platform. Speaking at the time of his appointment, Kalambi said that one of his goals would be to “ensure that this product,” i.e. the Rize One, “gets into...
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