3D Printing Firm UnionTech Completes Round D Financing Worth $31 Million

On Tuesday, UnionTech, an industrial-grade 3D printing enterprise, completed the round D financing worth 200 million yuan ($31 million). This round was led by Dening Capital, followed by Cash Capital, Yingke Private Equity and Dragonrise Capital, Evonik Venture Capital Gmbh and others.

3D printing is a new type of digital manufacturing technology driven directly by CAD digital models. UnionTech, established in 2000, is involved in the field of industrial, nonmetallic 3D printing. It has more than 20 product series, 68 subdivided products and 178 patents, and its R&D investment within the most recent three years has exceeded 100 million yuan.

In the past 10 years, the average annual growth rate of UnionTech’s operating income has exceeded 50% while the average annual growth rate of its equipment has exceeded 80%. According to Contextworld’s report, the company’s shipments in Q1 and Q2 jumped to the top spot in the global industrial-grade 3D printing industry.

At present, UnionTech has developed a series of its own software,  including data pre-processing software Polydevs, printing control software RSCON/DSCON, process algorithm software BP and digital production management collaborative system Unionfab. Taken together, the company’s software forms the complete layout of the 3D printing software system.

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The global 3D printing industry began to develop from 2000 to 2010 but entered a rapid growth period around 2011. The global 3D printing market has reached $10 billion, with a compound annual growth rate of about 28%. To date, the market scale of China’s 3D printing industry has grown at a compound growth rate of 49.1% over the past five years.