3YOURMIND Closes Series A+ Investment
This investment will accelerate 3YOURMIND´s further growth by exploring new market opportunities to build smarter manufacturing infrastructures internationally.
Berlin, Germany, September 7, 2020 - Today, 3YOURMIND announces a recent investment round led by the venture unit of a key player in the European energy and infrastructure industry, EnBW New Ventures (ENV). EnBW is a recognized leader in renewable energies and operates extensive infrastructure in Germany and throughout Europe. ENV, along with 3YOURMIND´s existing investors UVC Partners, AM Ventures, TRUMPF Venture and coparion, invests $5.5M USD in 3YOURMIND. This recent investment supports not only 3YOURMIND’s further growth in sectors such as aerospace, automotive and engineering, but also strengthens its position in the energy industry and infrastructure maintenance. 3YOURMIND has secured contracts with over 50 enterprise customers in various industries helping them to print thousands of parts per day.
3YOURMIND’s proprietary Additive Manufacturing (AM) workflow software is the centerpiece for manufacturers to optimize their value chain and achieve up to 40% cost reduction as well as 18% shorter lead times. Agile manufacturing, which is defined by flexible, automated and distributive production, is possible with 3YOURMIND and will equip enterprises with the ability to redefine the next generation of manufacturing. Primarily used as a streamlined communication tool for many different industries, this workflow software has become an integral part for those who are producing spare parts on-demand, efficiently replacing outdated machinery and transitioning to a digital warehouse. Although most 3YOURMIND customers are already heavy users of Additive Manufacturing, their tool also provides an ideal entry point for those that want to identify 3D printing use cases and understand the impact that agile manufacturing can provide to their business.
"The current macro situation forces companies to focus on supply chain resilience,” says Aleksander Ciszek, Co-Founder and CEO of 3YOURMIND. “Our customers benefit from the distributed manufacturing software we are providing as the increased flexibility in their supply networks secures and generates value. We are happy that ENV and our existing investors support that vision."
This recent investment will strengthen 3YOURMIND’s development efforts to enter new markets and industries, while bolstering marketing and sales internationally. With locations in Europe and the United States, 3YOURMIND will expand further into those regions and beyond.
“The promise of Industry 4.0 relies on Additive Manufacturing,” says Crispin Leick, Managing Director at ENV. “The 3YOURMIND offering enables companies to easily implement AM into their production process which supports the sustainability of many manufacturing and MRO (Maintenance, Repair, & Operations) applications. We are excited to invest in 3YOURMIND, a company that is shaping the future of manufacturing.” ENV believes in supporting strong, innovative companies that can create major impacts in the energy and mobility markets.
“Even during these unprecedented times, we expect to double our annual sales for the third straight year,” elaborates Stephan Kühr, 3YOURMIND CEO in charge of revenue and growth. “This investment by ENV and our existing investors UVC Partners, AM Ventures, TRUMPF Venture and coparion will enable us to strengthen our expansion efforts in Europe and North America.”
EnBW, similar to other energy providers, operates power plants of different types and age, as well as an extensive infrastructure for delivery. To supply their six million customers and to remain operational they must find efficient ways to maintain outdated equipment. Additive manufacturing has proven to be a viable solution.
About 3YOURMIND
3YOURMIND offers Enterprise Software to automate additive manufacturing processes and workflows for leading companies and 3D printing services. Their modularized product suite standardizes every aspect of the Additive Manufacturing supply chain from analyzing historical part data to efficient order management to optimal production scheduling. The Agile PLM analyzes historical part data to build a digital inventory of AM-ready parts. The Agile ERP automates AM pricing, production recommendations and routine business processes for order management. The Agile MES optimizes scheduling, transparency and quality assurance tracking along the AM production chain. With end-to-end transparency, traceability and flexibility, the software lays the foundation for Agile Manufacturing. 3YOURMIND is a global organization with headquarters in Berlin, Germany and satellite offices throughout Europe and the United States.
About EnBW New Ventures
ENV supports entrepreneurs to develop new solutions for a sustainable future - people, planet, profit - by leveraging our financially driven VC setup with the reach and skills of the corporate investor EnBW. With an investment volume of 100 million euros, ENV offers start-ups access to professional investor expertise and a customer and supplier network in the areas of energy and infrastructure. The startups that we invest in engage and scale with EnBW in its transformation towards becoming a sustainable and digital infrastructure operator.
About UVC Partners
Unternehmertum Venture Capital Partners (UVC Partners) is a Munich- and Berlin-based early-stage venture capital firm that invests in technology-based startups in the areas of enterprise software, industrial technologies and mobility. The fund typically invests between € 0.5 - 4m initially and up to € 15m in total per company.
Portfolio companies benefit from the extensive investment and exit experience of the management team as well as from the close cooperation with UnternehmerTUM, Europe’s leading innovation and business creation center. With over 240 employees and more than 100 industry partners, UnternehmerTUM can draw from many years of experience in establishing young companies. This cooperation enables UVC Partners to offer startups unique access to talent, industry customers, and other financial partners. The portfolio includes investments such as Blickfeld, Carjump (Free2Move), FlixBus, KONUX, TWAICE and Vimcar.
About TRUMPF Venture
TRUMPF Venture extends the TRUMPF group’s comprehensive activities to promote innovation and to detect disruptive technologies and business models early on. Out of a first fund of 40 million euros, the corporate venture capital arm invests globally in early-stage start-ups active in areas complementary or adjacent to the TRUMPF core, such as Advanced Photonics and Smart Factory Solutions. Funded start-ups benefit from an extensive network, deep domain knowhow, proven skills in scalability as well as support to access the TRUMPF group and its ecosystem. The requirements for a potential investment are a strategic fit, a high innovation leverage and differentiation in business model or technology, an experienced management team and risk adequate financial returns.
The TRUMPF group is the world technological and market leader for machine tools used in flexible sheet metal processing as well as industrial lasers and achieved sales of 3.5 billion euros (preliminary figures) in 2019/20.
About AM Ventures
The leading venture capital firm in additive manufacturing has an extensive portfolio of more than a dozen successful companies in 7 countries on 3 continents. AM Ventures possesses in-depth technology know-how and is well connected with the most experienced industry experts in the 3D printing industry. As an investment partner, the company provides a globally leading ecosystem of sustainable investments in hardware, software, materials and applications start-ups. AM Ventures offers customized investments and provides startups with unique access to advanced production technologies. They also introduce entrepreneurs to a pool of industry experts, each one with decades of experience in engineering, production or executive management.
About Coparion
coparion provides venture capital to accelerate momentum and growth. With a current active fund of EUR 275 million coparion has the means to do so.
coparion supports entrepreneurial vision with know-how, but without intervening in daily business operations. Thanks to in-depth experience in venture capital and in building companies, the coparion team discerns potentials and opens up new perspectives. coparion has the substance, tenacity and creativity required to mutually manage difficult situations successfully.
coparion only invests with co-investors. The fund invests up to EUR 10m per company, usually in several financing rounds of EUR 0.5 - 5m each. Investment focus is on German companies in the start-up and early growth phase. coparion is based in Cologne and Berlin.
www.coparion.vc/