Caracol, a Barlassina, Italy-based industrial large format 3D printing company, raised €10M in Series A funding led by CDP Venture Capital, Neva SGR, Venture Capital from Intesa Sanpaolo Group, and Primo Space Fund and EUREKA! Venture SGR – already investors in Caracol.
Primo Space Fund and Eureka! Ventures SGR invested EUR 3.5m in Caracol on 15 Sep 2021, a large-scale additive manufacturing startup.
The company intends to use the funds for the further development of its partners network both for the technical progress, for the commercialization of Heron AM in key European and global markets, opening two new hubs in North America and in the Middle East, with dedicated local teams, and for tripling the team in approx. two years, to about 120 employees in 2024.
Led by Francesco De Stefano, Caracol aims to the limits of 3D printing and traditional manufacturing via HERON AM, a solution for the production of advanced components, for high-performing industrial sectors. HERON AM is a Large-Format Additive Manufacturing platform, a robotized extrusion system, with direct and continuous feeding of composites polymers, a dedicated software solution for the most complex tool paths, and more.
The company has provided technology and manufacturing solutions to companies internationally, in sectors that span from aerospace to automotive, energy, marine, and more.
READ ALSO: XBOOKS Bags £425K in Pre-Seed Funding: UK
Matteo Cascinari, General Partner of Primo Space Fund: “In a very short time, Caracol has been capable of affirming its solutions in different sectors and particularly in space, notoriously a very complex and technologically advanced market, also with an eye to sustainability. Together with other qualified investors, we’ll finance the continued growth and international expansion of the company, confident that its founders and all its team will be able to meet the challenge with skill and resolve.”
Stefano Peroncini, CEO of EUREKA! Venture SGR, comments “Caracol is an extraordinary example of innovation, covered by a solid patent strategy. This will allow the company to both expand the type of materials used in additive manufacturing and the use of robotic systems to produce large-scale parts, achieving improved performance in terms of quality, costs, and time compared to other standard techniques”.
ABOUT CARACOL
Launched as a startup at the end of 2017 by Francesco De Stefano, Jacopo Gervasini, Paolo Cassis and Giovanni Avallone, Caracol has transformed robotic supports in an integrated Additive Manufacturing technology, following its research in the world of 3D and generative design at Politecnico di Milano. Thanks to the development of its patented innovative extrusion system and to its proprietary software algorithms: Caracol’s robotic system can produce large-scale single-piece components, with complex geometries and with “direct printing” of composite materials with high mechanical and thermal performances. Caracol’s innovativeness resides in its ability to overcome the limits of traditional industrial 3D printers in terms of size, with lower operating costs compared to conventional processes and to other solutions on the market.