Klöckner & Co has invested in technology startup BigRep via its venture capital subsidiary kloeckner.v. Klöckner & Co’s upfront investment before the conclusion of the ongoing international Series B financing round for BigRep GmbH marks its entry into the future market of additive manufacturing. BigRep designs and produces the world’s largest 3D printer and provides consulting for additive manufacturing system solutions. Alongside the financial investment, Klöckner & Co plans to use BigRep’s industrial 3D printers in its extensive European and US site network going forward. This market segment has a promising outlook, with an annual growth rate of around 20 percent expected by 2020.
“The systematic emphases of our Klöckner & Co 2020 strategy are digitalizing the supply and value chain as well as boosting higher value-added products and services,” says Gisbert Rühl, Chairman of the Management Board of Klöckner & Co SE. “Our investment in BigRep targets both elements of the strategy, paving the way to our participation in a highly promising growth market.”
“We expect digitalization to radically alter traditional value chains,” says René Gurka, CEO of BigRep GmbH. “Together with Klöckner & Co – the pioneer of digitalization in the steel industry – as our strategic partner, we aim to exploit this trend as we move forward.”