FastForm Completes First Round of Nearly Hundred-Million-Yuan Financing

Technology Author: EqualOcean News, Xiaoran Zhang Mar 04, 2024 04:03 PM (GMT+8)

FastForm secures strategic financing to accelerate the promotion of metal 3D printing equipment and further expand its market presence.

3D printing

Recent reports reveal that FastForm, officially known as Micron (Jiangsu) 3D Technology Co., Ltd., has recently concluded its first round of nearly hundred-million-yuan strategic financing. The investment is jointly led by industry players Yueda Automotive Industry Fund and Huagong Technology, with participation from Tianchong Capital, Xuzhou Airport Economic Development Zone, and others. This funding round is earmarked for the large-scale production of the next-generation SLM metal 3D printing equipment and its promotion, aiming to expedite penetration into sectors such as titanium alloy 3C consumer electronics and shoe molds.

Established in 2016, FastForm boasts founders with strong backgrounds from renowned 3D printing research institutions globally. Co-founder Li Shuai, a disciple of Professor Shi Yusheng at Huazhong University of Science and Technology, earned his doctoral degree at Nanyang Technological University, specializing in research on additive manufacturing equipment, processes, and application development. Co-founder Chen Zhichao, on the other hand, pioneered large-size splicing interface enhancement algorithms and parallel multithreading algorithms. FastForm focuses on fundamental technology, considering the fusion of software and processes as its core, dedicated to the production, manufacturing, and related services of metal SLM devices. Their independently developed control software seamlessly integrates with slicing software, offering user-friendly operations. Li Shuai has previously mentioned to the media, "In terms of data efficiency, our self-developed software achieves nearly 10 times the slicing speed compared to similar software."

Analysis suggests that the industrialization of metal additive manufacturing can be divided into three stages. The first stage was around 2008 when the exploration of the industry began in China; The second stage mainly focused on the mass production of metal 3D printing in high value-added products, especially in military and aerospace; Since 2023, with the application of 3D printing materials expanding to consumer electronics fields such as foldable phone screens, metal 3D printing has entered a new stage of large-scale industrial application, and FastForm has developed rapidly in this stage.

In 2023, the company claimed the top market share for dental SLM equipment. Currently, FastForm's clientele spans across aviation and aerospace, automotive, medical, and educational fields, with its software and processes operational on nearly a thousand devices, positioning it at the forefront of the domestic 3D printing software domain. With rapid business expansion, the company plans to establish a research and sales center in Shanghai, broaden its sales channels, and simultaneously expand its research and development team.

Apart from exploring various domestic niche markets, FastForm is set to intensify its international efforts. Reports indicate a rapid increase in the company's overseas business share in 2023, with its products entering dozens of markets including Russia, India, and the United States. In the future, FastForm aims to further expand its international presence and expedite the construction of its agent and after-sales service system.