Zaxe, a Turkish 3D printer manufacturer, successfully closed a $2 million investment round. Led by the Regional Development Fund under the umbrella of leading Turkish private equity firm PCP Technology Opportunities Fund and Türkiye Development Fund, the round also attracted participation from existing investors such as KVK—the Dutch Chamber of Commerce, which registers and supports businesses in the Netherlands—, Turkish-based venture capital firm Omurga Technology Fund, Turkish angel investors Nevzat Aydın, Ali Demir Akel, and Muzaffer Akpınar.
Founded in 2015, Zaxe has been committed to revolutionizing the traditional production methods in Turkey. The company aims to make production simpler and faster using its advanced 3D printing technologies. This new investment is expected to fuel Zaxe’s ambition to become the fastest-growing player in the global 3D printing market.
“We will continue to maintain this momentum with the new investment we have received,” the company stated.
Specializing in high-speed printing capability, AI-based technologies, and plug-and-play designs, Zaxe has expanded its reach to more than 15 countries, including Europe and North America. The company offers a comprehensive ecosystem comprising hardware, software, and materials for diverse applications in additive manufacturing.
Zaxe’s founders, Baki Gezgen and Aydonat Atasever, expressed their vision for the company: “With this new investment, we aim to become one of the significant players in the global market and continue making production simpler and faster, independent of traditional manufacturing methods.”
One of Zaxe’s unique selling points is its focus on user experience. The company offers an ecosystem that is entirely owned by them, encompassing hardware, software, and materials. Their aim is to provide fast, scalable, and repeatable manufacturing solutions for various industries. This unique ecosystem also allows compatibility with popular software like Paint 3D, making it easier for institutions and individuals to model and print designs.
In September 2021, Zaxe announced it had reached its targeted growth rate within its domestic market of Turkey and had plans to introduce multiple new hardware and software products to the additive manufacturing sector.
Before this latest influx of capital, Zaxe had already raised a total of $1.6 million over three investment rounds. The company’s initial seed round in February 2015 saw an investment of $250,000. This was followed by a Series A round in December 2016, raising $37,247, and another seed round in October 2020, which brought in $298,000. With this latest investment, Zaxe claims it is well-positioned to broaden its global footprint and drive innovation in the 3D printing industry, making additive manufacturing more accessible and versatile across various sectors.
Amid this promising financial landscape for Zaxe, it’s worth examining the broader context of the 3D printing industry in Turkey, where the company is based. With more than 30 3D printing startups, Turkey’s 3D printing market is gradually gaining traction, echoing trends in other emerging markets. Although the country has a growing technology sector and a burgeoning startup culture, the 3D printing industry has developed at a slower pace compared to global leaders like the United States, Germany, and China.
Nonetheless, 3D printing technology is making inroads into Turkey’s traditional manufacturing sectors, offering benefits such as quicker prototyping and low-volume production solutions. The construction sector in Turkey also shows a growing interest in leveraging 3D printing, particularly for low-cost housing solutions. However, the market faces challenges like high material and machine costs, limited expertise, and local production capabilities. These obstacles could potentially be mitigated through increased investment, governmental support, and educational programs tailored to the industry. As 3D printing becomes more cost-effective and expertise in the field grows, the technology is poised for broader adoption across various sectors in Turkey.
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