€8 million raised for xolo GmbH by multiple investors including HZG Group
Summary
Berlin-based 3D printing start-up xolo GmbH has raised 8 million EUR in a Series A financing round with HZG Group among the investors.The DeepTech & Climate Fonds (DTCF), Onsight Ventures, and current investor SquareOne have also participated in the Series A round. The company also says that it makes use of materials that could not be previously used for 3D printing.The aim of the company is to achieve a breakthrough with the novel technology and open up new fields of application for 3D printing, for example in medical technology for the reproduction of organs or in the optical industry for the production of high-precision lenses.The printing process was developed at the Technology Park Berlin Adlershof by xolo founders Prof. Dr. Martin Regehly, Prof. Dr. Stefan Hecht and Dirk Radzinksi. The process is a volumetric printing method based on a cuvette with liquid resin continuously moving through a light sheet, into which additional light projection is focused.By enriching the liquid resin with photoactive specialty chemicals developed by xolo, the final product is produced within a very short time and with smooth surfaces, according to the company.Dirk Radzinksi, xolo Co-Founder and CEO, said: Xolography represents a fundamental shift in the 3D printing industry. Our investors understand the importance of this paradigm shift and support us with their financial strength, expertise and network towards making it a success.Frank Carsten Herzog, managing partner of the HZG Group, who was recently a guest on the TCT Additive Insight podcast, added: Xolography significantly improves the resolution and volume generation rate of previous processes. This means that in the future, the process will be able to produce large numbers of highly detailed objects in a short time, the economic potential is enormous.The DTCF focuses its investments on the capital-intensive growth phase of companies, with the aim to develop technology champions of the future of tomorrow.