Dental 3D printing company Structo has closed a funding round that includes government-linked investment.
Application-specific 3D printing is truly taking off these days, with more companies introducing 3D printers, software, and materials aimed at individual use cases for targeted solutions. Singapore-based Structo is an entire company dedicated to one vertical: dentistry.
Structo’s CEO has told us before how their application-specific approach “takes the work out of workflow” by easing process steps for users through well-understood solutions.
That approach has been gaining momentum in the industry overall, and for Structo in particular. This spring, they announced a collaboration focused on orthodontic aligners, and have clearly continued to make waves with interested parties who align with their goals.
Today, Structo is announcing its latest funding round.
No figures are named, so we don’t know just how major it is, but some of the investors indicate at least some major interest in Structo’s operations.
Included among the investor list are EDBI, GGV Capital, Wavemaker Partners, and Pavilion Capital.
EDBI in particular is of interest here, as the organization is linked to the Singapore government, functioning as a global fund investing in advanced technology sectors that will lead to greater growth for Singapore. EDBI lists as its criteria for investment:
Differentiated Products & Exemplary Services
Commercially Attractive Business Model
Catalyse the growth of new strategic industry pillars
Strengthen existing engines of Singapore’s economy
Structo has been judged then to fit these criteria, poised to continue growing both dental 3D printing and Singapore’s positioning in this industry. The company grew out of a 2014 project at the National University of Singapore (NUS).
“Structo is a great example of how an idea born in our local university can reach the global market with government-linked and private investors working closely together to provide funding at different stages of its growth,” said Chu Swee Yeok, CEO & President of EDBI. “Such support is especially important in nurturing deep tech start ups and ensuring a vibrant innovation ecosystem in Singapore.”
Previous funding rounds have seen Structo expand from its NUS roots into global operations, including presence in the US, Canada, and the UK. GGV Capital and Wavemaker Partners are noted as having helped contribute to this global expansion, as well as ongoing growth at the HQ in Singapore, where Structo does all its engineering and R&D work.
The new investment is set to propel Structo on its path forward.
The company notes that its plans include developing more digital manufacturing solutions for dentistry and launching “new products that focus on leveraging automation to enable mass production of custom patient-specific products.”
Structo Co-Founder and CEO says of today’s news:
“The recent rise in consumer demand for clear aligners, an orthodontic appliance that can only be produced through additive manufacturing has accelerated the demand for more novel and customized solutions. At Structo, we believe there is no one-size-fits-all solution for any specific end-use, in particular for an industry that is as diverse in size and requirements as dental.
“Partners such as EDBI have been instrumental in getting Structo to where it needs to be. EDBI’s support has allowed our team to develop capabilities in Singapore in engineering, product development, material sciences and manufacturing. By leveraging EBDI’s strategic industry partners, investor community and network of talent, we were able to push the boundaries of additive manufacturing. EDBI’s investment in our company is a testament to the successes our team has achieved in a short period of time.It will help us continue to fulfil the dental industry’s need for novel solutions for mass customization through digital manufacturing. It will help us continue to fulfil the dental industry’s need for novel solutions for mass customization through digital manufacturing”.