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09 February 2016

3D print company set for further growth with £300k backing

Portfolio progress story


A Burnley company which is a pioneer in the field of 3D printing has received further funding of over £300,000 from investors as it continues to grow.


FDM Digital Solutions produces components for high-tech industries including aerospace and Formula One. It is also the lead partner in a major NHS research project developing a way to manufacture insoles digitally, based on scans of patients' feet, to help reduce the number of amputations amongst diabetics.


The investment has come from Lancashire's Rosebud Finance and The North West Fund for Venture Capital, both of which are managed by Enterprise Ventures. The company received a £860,000 investment from the two funds two years ago.


Founded in 2012, FDM Digital employs eight staff and now has the largest and most up-to-date range of 3D printers in the UK, including ones capable of printing items up to 1 meter in size. Using the latest 3D print techniques - or additive manufacturing as it is also known - FDM Digital can capture data from any shape and use it to create bespoke items. Products can be dispatched in the customer's own packaging and delivered directly to end users, thus providing a lean supply chain solution.


Graeme Bond, the company's CEO, said: "The funding we have received has put us ahead of the field by allowing us to invest in the very latest technology. We are committed to driving the uptake of digital manufacturing technology in industry and believe the key is working closely with selected customers to educate them on the benefits."


Peter Rooney of Enterprise Ventures said: "FDM Digital's team combine practical engineering knowledge with computer design skills and have a deep understanding of the technological capabilities of 3D printing. This has made them a partner of choice for manufacturers that are turning to 3D printing to develop innovative new products and re-engineer existing products. Our investment has been critical in supporting the rapid growth of the business over the past two years and will allow it to continue expanding."  


Rosebud provides loan and equity finance for businesses in growth sectors such as aerospace and advanced manufacturing, healthcare, creative and digital, energy and environmental technology, and financial and professional services.


It is managed by Enterprise Ventures, on behalf of Lancashire County Developments Ltd (LCDL) - the county council's economic development company.


County Councillor Niki Penney, Chair of LCDL, said: "We're delighted that Rosebud is once again supporting FDM. It's a strong endorsement that we're providing the finance and support that businesses need.


"Lancashire has a world-class advanced manufacturing sector and it's a sector we're very keen to support.  There's great potential for new technology, such as 3D Printing, to create new jobs right here in Lancashire. It's a growing area and we're pleased to support this exciting area of FDM's work."



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