Mantle, the leader in metal 3D printing technology for precision tooling, today announced it has reached a significant milestone by securing $20 million in Series C funding. This achievement, raising the company’s total funding to more than $61.5 million, marks a crucial step towards widespread adoption of its precision metal manufacturing technology.
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The Series C funding round will be critical in supporting Mantle’s rapid 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.
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“Mantle is poised to revolutionize the global tooling industry,” said 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 labor shortages and accelerate product development timelines for industrial toolmakers and OEMs worldwide.”
The recent push towards reshoring manufacturing back to the United States has highlighted the urgent need for innovative solutions to address labor shortages while reducing costs and improving production efficiencies. Among the myriad of technologies attempting to step up to this challenge, metal 3D printing has emerged as a cornerstone, poised to redefine the future of American manufacturing.
“The fragile state of the global supply chain has triggered a massive reshoring initiative that sharply increased the demand for molded parts and thus toolmaking,” said Ted Sorom, CEO and co-founder of Mantle. “We’re navigating a twin set of hurdles: a toolmaking workforce in the U.S. 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 labor productivity, cut expenses, and drastically shorten lead times.”
Mantle’s innovative technology has played a crucial role in producing millions of end-use parts, ranging from medical devices and deodorant packaging to industrial components. By focusing on printing tools for mass production rather than the parts themselves, the company has tackled the longstanding issues of high costs and lengthy production times associated with tool creation for mass production. This strategic shift has resulted in cost reductions for customers exceeding 65 percent and accelerated manufacturers’ development cycles by up to 90 percent.
About Mantle
Mantle has developed the only metal 3D printer built for precision tooling. Mantle automates the production of precision tooling and delivers the accuracy, finish, and steel properties required for demanding tooling applications. Tools made with Mantle have molded millions of parts while reducing lead times, cutting costs, and solving labor shortages.
