Restor3d has successfully closed a funding round worth $70 million. The Series A funding round brought in $55 million and was led by private investors, including Summers Value Partners and existing partners. It also added $15 million in debt financing, led by Trinity Capital.
The company plans to use the proceeds to grow innovation in its patient-specific 3D printed implant systems, advancements in 3D printing technologies, software and AI-based automation and expanded medical education programs.
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The 3D-printed orthopedic implant maker offers patient-specific, patient-matched, and associated ancillary products. Its expertise is in 3D printing of osseointegrative biomedical materials. The company also offers biomechanics modeling, AI-based planning, and design automation tools.
“This fundraising round is a testament to the confidence our investors have in Restor3d’s vision and potential,” CEO Kurt Jacobus said in a news release. “With this capital, we can accelerate our efforts to transform orthopedic care through 3D-printed personalized implants. We are eager to maximize our impact on patient outcomes and continue to advance of orthopedic care. We are grateful for the support from our investors and look forward to a future of continued growth and success.”
Restor3d acquired orthopedic device maker Conformis in September last year. It acquired all outstanding shares of Conformis common stock at a purchase price of $2.27 per share, which represented a 96% premium to the company’s closing price before the sale announcement. Restor3d purchased Conformis with cash.
