SHANGHAI, Jan. 4, 2022
SHANGHAI, Jan. 4, 2022 /PRNewswire/ -- UnionTech, a leading industrial 3D printing company from China, announced on December 21 that it has completed a $30 million Series D financing.
In 2021, China's 3D printing industry has maintained rapid development and has attracted the attention of capital markets. There have been dozens of financings throughout the year, and UnionTech's D-round financing is one of the largest.
This round of financing is led by Dening Capital, followed by Cash Capital, Yingke PE and Dragonrise Capital Advisors. Evonik Venture Capital and Luhe Venture Capital, the investment shareholders of UnionTech in Series C round, made an additional investment in this round.
Founded in 2000, UnionTech is a leading enterprise in the field of industrial non-metallic 3D printing in the world. It has maintained rapid growth for nearly a decade with an average annual revenue growth rate of more than 50%. According to Contextworld, under the classification of industrial-level 3D printing equipment, UnionTech has jumped to the first place in the world in Q1 and Q2 of 2021 by shipment.
While ensuring the leading advantages in the industry, UnionTech has changed its operation structure and revenue structure significantly. At present, its products cover 3D printing equipment, materials and applications, which has formed a full closed loop in the upstream, midstream and downstream of the industry.
With its data pre-processing software Polydevs, printing control software RSCON/DSCON, process algorithm software BP and digital production management collaboration system UnionFab, UnionTech has built a complete 3D printing software system. In the third quarter of 2021, UnionTech and China's leading All-in-One CAx (CAD/CAE/CAM) provider, ZWSOFT jointly reached an overseas strategic cooperation agreement.
The development and breakthrough of material technology is one of the most critical factors to promote the progress of 3D industry. On July 19, 2021, UnionTech and Evonik jointly inaugurated the "Joint R&D Laboratory", marking the comprehensiveness and depth of cooperation between the two parties have been greatly enhanced.
Jason Ma, General Manager of UnionTech stated that after this round of financing, UnionTech will be committed to the development and application of new materials, intelligent manufacturing, digital production management and the network collaboration of capacity, empowering with knowledge, breaking the market boundary, connecting partners, working collaboratively and developing in a win-win way.
Contact person: Ted Bai