Mosaic Manufacturing, the Toronto-based unique gear producer (OEM) of fused filament fabrication (FFF) 3D printers, has closed a CAD$28 million (~$20.72 million US) financing spherical led by Idealist Capital. Idealist is a Canadian enterprise capital (VC) agency that prioritizes investments in Canadian firms creating options associated to the power transition.
Mosaic plans to make use of the newest capital inflow to proceed scaling up manufacturing of its flagship Array system, comprised of 4 of Mosaic’s Aspect or Aspect HT printers, tremendously amplifying the automation capabilities of Mosaic’s proprietary additive manufacturing (AM) expertise. After years of growth, Mosaic started transport the Array and the standalone Aspect programs a few 12 months in the past.
In a press launch Mosaic CEO Mitch Debora mentioned, “We’re proud to associate with our prospects in constructing extra resilient, sustainable provide chains powered by Mosaic’s Array. This funding allows us to broaden our affect as we deepen our presence in factories throughout the globe.”
François Boudreault, a associate at Idealist Capital, mentioned, “Mosaic’s concentrate on throughput, high quality and cost-efficiency is unlocking novel functions for [AM] whereas considerably decreasing the often-overlooked waste produced by typical manufacturing processes. Idealist Capital is proud to associate with Mosaic’s group who’s driving sustainable manufacturing and provide chain resiliency.”
Together with VC corporations and main industrial companions like Lubrizol, Mosaic has additionally obtained help from the Canadian public-private innovation ecosystem which more and more resembles that of the US, drawing investments from establishments similar to NGen and Canada Makes. Mosaic’s distinctive positioning as a Canadian OEM, formidable imaginative and prescient of accelerating AM’s scalability, and concentrate on placing its expertise on the manufacturing facility ground all present the corporate with a compelling narrative to draw potential buyers.
As was briefly famous in AM Analysis’s recently-released white paper produced with Würth Additive Group, a number of associated components make Canada a market that would disproportionately profit from AM’s benefits.
Canada’s sparse inhabitants signifies that AM’s enabling of manufacturing near or on the point-of-need may result in outsized reductions in carbon emissions associated to transport. Moreover, the excessive share of low-carbon sources in Canada’s power combine signifies that transferring manufacturing capability onshore might be considerably extra sustainable than producing the identical components abroad.
Lastly, the perfect alternative to scale back carbon emissions in North America’s manufacturing panorama lies within the US and Canada maximizing the potential for the 2 nations to work collectively in direction of conserving as a lot manufacturing capability as potential in North America. For that to occur, Canada must proceed encouraging the expansion of firms like Mosaic.
Photographs courtesy of Mosaic Manufacturing
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