RIZE Inc. announced that it has received $15M in Series B funding from Innospark Ventures, Sparta Group LLC, Converge and Dassault Systèmes to propel R&D and expansion of RIZE additive manufacturing solutions worldwide. The new investors join existing investor, Longworth Venture Partners.
“Our strategy is to expand the adoption of industrial 3D printing. This funding by a deeply respected group of diverse global investors validates our approach to make it a mainstream application within the enterprise,” said Andy Kalambi, President and CEO of RIZE. “It is gratifying that our investors share our values of inclusive and sustainable innovation by making industrial 3D printing safe, easy and affordable. 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.”
“The Additive Manufacturing industry is poised for massive growth,” said Venkat Srinivasan, Managing Director of Innospark Ventures. “We invested in RIZE based on their unique value proposition of scaling 3D printing across the enterprise by making it easy and safe, and extending it to become an intelligent platform for delivering intelligent parts. The RIZE leadership team is experienced and proven in building large businesses, supported by a great technical team, and has impeccable references from their current customers and partners.”