The money will support new positions in the company’s expanding U.S. market and its home base in Belfast, U.K. — with a focus on expanding the company’s machine learning team, the company said yesterday.
Axial3D is working on automated algorithms to improve access to medical 3D printing for surging modeling and education in healthcare settings.
“The closure of this investment round marks an important milestone for our company. It will accelerate our growth within our expanding markets and enable us to bring our 3D printing solution to more healthcare organizations, helping them to drive down costs, improve compliance and, ultimately, enhance patient care,” Axial3D CEO Daniel Crawford said in a news release.
London-based Imprimatur Capital Fund Management led the funding round, which was also supported by angel investors in the surgery space. Previous institutional investors Techstart Ventures, Clarendon Fund Managers and Innovation Ulster also participated.
Dr. Christopher Rumana, neurosurgeon board chairman at Tallahassee Memorial Healthcare in Florida, has used axial3D’s medical 3D printing service since 2018 and is now investing in the company.
“Axial3D has built a scalable, accessible platform for clinicians to access 3D printing without the capital expenditure or manpower traditionally required. Having been in the medical field for over two decades, I have seen how technology improves patient care,” Rumana said.