3YOURMIND Raises $12.4M in Continued Series A+ Round
The funding will fuel the company’s ambition to advance end-to-end production processes digitization.
Berlin, April 22nd, 2021 - 3YOURMIND, a US-German software company in additive manufacturing (AM), has successfully closed a new Series A+ financing round with two prominent European investors. LBBW VC, the venture capital arm of Landesbank Baden-Württemberg, is strategically focused on supporting highly innovative companies with scalable B2B business models in emerging markets. Verve Ventures, located in Switzerland, is one of the leading European investors with extensive reach to new market opportunities enabled by their digital venture capital platform. The new investors bring access to a deep network of potential partnerships. This news magnifies the first round of investment previously completed with German investor EnBW New Ventures, which resulted in September 2020 to the amount of $5.5M USD. This expanded financing round accumulates to a total of 12.4M USD. Existing investors UVC Partners, TRUMPF Venture and AM Ventures participated in this financing round.
“The original investment made by EnBW New Ventures supports 3YOURMIND’s growth in the energy sector while the latest investment enables the company to further invest in building a Digital Qualified Inventory”, says 3YOURMIND co-founder Stephan Kühr. “We want to secure our technology leadership in part identification and digitization of AM processes and expand our business internationally.”
Today, 3YOURMIND’s customers include Deutsche Bahn, Erpro, Bosch, and other international companies operating in Aerospace and Defense, Automotive or Medical industry.
“The ability to produce parts on demand is a crucial advantage for companies who wish to control their production value chain.” says Aleksander Ciszek, co-founder of 3YOURMIND. “With this investment, we will extend our international footprint and further support our customers who wish to implement additive technologies into their production process.”
Market Leader for Digital AM Processes
The Agile Manufacturing Software Suite by 3YOURMIND is designed to enable automated solutions for manufacturing. The three platforms, Agile PLM (AM data aggregation), Agile ERP (quote & processing), and Agile MES (part tracking and traceability), optimize the AM workflow along the entire value chain. This software suite provides a seamless, end-to-end flow of responsive, accurate, and efficient data for any production facilities.
“Our products provide engineers with actionable information to identify AM-ready parts that are less expensive than conventional manufacturing methods,” says Ciszek. “We are working with the most progressive manufacturing leaders in automotive, energy, and healthcare sectors to develop innovative ways to improve flexibility and sustainability.”
These software tools allow for up to 40% cost savings as well as 18% shorter lead times.
3YOURMIND is the market and technology leader when it comes to digitizing AM processes. The German company with offices in the US is a perfect, innovative partner for companies planning to introduce AM or are already using AM.
Pandemic Highlights the Need for Distributed Manufacturing
The global market for AM has increased six-fold within the past decade with no signs of slowing down. According to a survey conducted by Ernst & Young, many companies have already gained initial experience in 3D printing or have identified and exploited specific application opportunities for additive manufacturing. Especially in automotive, energy and healthcare industries, the spread of AM is steadily advancing.
“The ongoing Corona pandemic has made all market players aware of the urgency to continue optimizing AM processes,” says Ciszek.
Traditional supply chains are being re-evaluated and the concept of distributed manufacturing has become a priority for many OEM’s.
“The ability to produce parts on demand is a significant advantage for companies who wish to become more self-reliant and less dependent on overseas vendors.” says Ciszek.
3YOURMIND provides a powerful solution that identifies the most impactful parts and optimizes the workflow for maximum efficiency.
The international pandemic has exacerbated the gaps and weaknesses in the conventional supply chain. Many industries are contemplating their transitional plans and wondering, what’s next?
“Modern, agile manufacturing characterized by flexible, automated and decentralized production is only made possible through intelligent software tools,” says Kühr. “The next generation of industrialization is at an early stage and 3YOURMIND is determined to define the future of manufacturing.”
3YOURMIND is an agile manufacturing software solutions provider dedicated to optimizing the additive manufacturing workflow. Purposely driven to increase adoption and widespread access to AM technologies and materials, 3YOURMIND offers unique solutions to production facilities and manufacturers who wish to embrace the next generation of industrialization. Through a sophisticated software suite that consists of advanced PLM, ERP and MES platforms, 3YOURMIND is able to identify AM-ready parts, optimize processes and aggregate data that reduces costs and lead times. Our transparent approach enables users to adopt AM technologies, innovate without fear, and effectively scale their business. www.3yourmind.com
About LBBW Venture Capital
LBBW Venture Capital is a Venture Capital arm of Landesbank Baden-Württemberg (LBBW). They invest in highly innovative startups in the DACH region which have substantial technological differentiation and a scalable B2B business model in emerging markets. Thereby LBBW VC supports their portfolio companies by providing access to LBBW's broad corporate customer network as well as management expertise and experience as a partner on the way to a successful exit. www.lbbwvc.de
About Verve Ventures
Verve Ventures is a network and technology-driven venture capital firm based in Switzerland. Founded in 2010 by Steffen Wagner and Lukas Weber, Verve Ventures has grown to more than 40 team members and become one of the most active venture investors in Europe with over 100 science and technology-driven startups in its portfolio. A dozen investment professionals identify the most promising digital, tangible and health & bio startups. Selected private and institutional investors get access to the investment opportunities through a digital platform. The company invests EUR 0.5 million to several millions from Seed Stage onward in startups across Europe. Verve Ventures dedicated team helps startups with their most pressing needs such as hiring, client introductions and an expert network of high-profile individuals. To join Verve Ventures’ growing pan-European community of entrepreneurs and investors, visit verve.vc.
Notes for media representatives
- The managing directors of 3YOURMIND, Stephan Kühr and Aleksander Ciszek, are available for interviews. Please direct any inquiries to Juliane Schoeren (e-mail: firstname.lastname@example.org - phone: + 49 157 92399509)
- For further information and images for use free of charge, please visit www.3yourmind.com/presse