Mantle bags $20 million in Series C funding to expand metal 3D printing technology for precision tooling

Mantle, a specialist in metal 3D printing technology for precision tooling, has secured $20 million in Series C funding.

This takes the company’s total funding to more than $61.5 million.

The Series C funding round will support Mantle’s market expansion, scaling manufacturing to meet demand, and developing new capabilities and materials.

Led by Schooner Capital, a Boston-based private investment firm, the round was also joined by the company’s largest existing investors, including Fine Structure Ventures, Foundation Capital, Corazon Capital, 11.2 Capital, and Build Collective.

"Mantle is poised to revolutionise the global tooling industry," says Alexandra Manick, Principal of Schooner Capital.

"The company’s advanced manufacturing platform, TrueShape, is proven to deliver significant cost savings and, more importantly, unprecedented speed for its customers.”

“This paradigm shifting solution is readily adoptable and sorely needed to address persistent skilled labour shortages and accelerate product development timelines for industrial toolmakers and OEMs worldwide."

"The fragile state of the global supply chain has triggered a massive reshoring initiative that sharply increased the demand for moulded parts and thus toolmaking," says Ted Sorom, CEO and Co-founder ot Mantle.

"We're navigating a twin set of hurdles: a toolmaking workforce in the US that has shrunk by half over the past quarter century, coupled with the rising costs and extended lead times brought on by constrained toolmaking capacities.”

“This has driven manufacturers to seek out groundbreaking solutions. For our innovative customers, the adoption of Mantle’s tooling technology has emerged as a key strategy to enhance labour productivity, cut expenses, and drastically shorten lead times."

Heyco Products, a US-based manufacturer of wire protection products and electrical components, deployed Mantle technology for its in-house moulding and toolmaking capabilities.

“We purchased a Mantle system for two reasons: to reduce time to market for our products and to make our toolroom more efficient while attracting next-generation talent to Heyco,” comments Danny Anthony, Heyco’s Vice President of Operations.

“By using Mantle to print mould tooling, we have already brought a new product to market two months faster than we would have otherwise. We also increased the throughput in our toolroom by giving our toolmakers access to the latest technology that makes them significantly more productive.”