3YOURMIND announced they’ve received a massive investment of US$12.4M.
The Berlin-based startup with a most unusual name focuses on the software dimension of 3D printing, which is a topic of considerable interest in recent months.
The large investment was sourced from two parties: LBBW VC and Verve Ventures. 3YOURMIND explains their backgrounds:
“LBBW VC, the venture capital arm of Landesbank Baden-Württemberg, is strategically focused on supporting highly innovative companies with scalable B2B business models in emerging markets. Verve Ventures, located in Switzerland, is one of the leading European investors with extensive reach to new market opportunities enabled by their digital venture capital platform. The new investors bring access to a deep network of potential partnerships.”
You might be wondering what it is that 3YOURMIND produces, as “software” is a bit nebulous. In fact they’ve been developing a sophisticated system to provide automation solutions for manufacturing using 3D printing. They explain:
“The Agile Manufacturing Software Suite by 3YOURMIND is designed to enable automated solutions for manufacturing. The three platforms, Agile PLM (AM data aggregation), Agile ERP (quote & processing), and Agile MES (part tracking and traceability), optimize the AM workflow along the entire value chain. This software suite provides a seamless, end-to-end flow of responsive, accurate, and efficient data for any production facilities.”
There’s a lot of function in these components. One major feature is the idea of digital inventory, where spare parts are maintained as digital artifacts, and they are only produced in real life when they are required for use. We spoke to 3YOURMIND’s Dominik Lindenberger about their digital inventory system in 2019.
This concept is quite powerful, as it can provide significant savings. 3YOURMIND’s Co-Founder Aleksander Ciszek explained:
“Our products provide engineers with actionable information to identify AM-ready parts that are less expensive than conventional manufacturing methods. We are working with the most progressive manufacturing leaders in automotive, energy, and healthcare sectors to develop innovative ways to improve flexibility and sustainability.”
With the world increasingly turning towards highly flexible additive manufacturing options to overcome the fragile but efficient supply chains of the past, 3YOURMIND is poised to help make that happen.
It turns out that the manufacturers newly looking at AM are finding the software environment to be deficient, as compared to the highly sophisticated manufacturing systems used for other making equipment. 3YOURMIND’s systems could bridge that gap, and that’s perhaps the vision seen by their investors.
The additional funding will certainly allow 3YOURMIND to step up both development activities and marketing of their existing suite. With several other parties seemingly pursuing the same goals, this investment will give 3YOURMIND a boost.