The $200 million TASE IPO
Given that Massivit3D isn’t a publicly-listed company just yet, there’s very little information about its finances in the public domain. However, it’s understood that the firm has raised around $20-$30 million in previous funding rounds, with investors including Klil’s Zvi Neta and Tzuri Daboosh as well as Stratasys.
Whether Massivit3D’s IPO is financed by these investors again or the company finds new backers remains to be seen, but it has been confirmed that equity firm Poalim IBI will underwrite the offering. Massivit3D’s valuation appears to be based on its earnings and technological potential, and it reportedly turned over $50 million in revenue from 2017 to 2019.
Although it has also been reported that the company’s sales in 2020 were impacted by the pandemic, it’s now understood to be entering revenue recovery like the rest of the 3D printing industry. 3D Systems, for instance, recently posted strong initial Q4 2020 results, while PyroGenesis’ financial guidance projected growth of over 300%.
Massivit3D was also co-founded by Gershon Miller, a seasoned entrepreneur who has sold firms like Idanit to Scitex before, and most recently sold Objet to Stratasys. As a result, the company’s offering appears to be in safe hands, while more generally, its progress reflects a growing industry enthusiasm for IPOs.
Desktop Metal went public on the NYSE last year after a merger with Trine Acquisition, which saw the company raise $580 million in capital, effectively funding its $300 million acquisition of EnvisionTEC. Israeli tech firms have also been active on the TASE recently, with additive food company Meat-Tech 3D filing for an IPO in November 2019.
3D printing on a grand scale
Massivit3D isn’t the only company that manufactures large-format 3D printers, and a range of other scalable systems have developed in recent years.
Intech Additive Solutions, for instance, has launched its large-format iFusion LF series of metal 3D printers. The machines’ 450 x 450 x 450mm build volumes and broad metal compatibility are geared towards Indian manufacturers operating in the aerospace and automotive sectors.
Last year at Formnext Connect, German 3D printer manufacturer SLM Solutions launched its large-format challenger with its new NXG XII 600 system. The machine includes a huge 600 x 600 x 600 mm build envelope and twelve optimized 1 KW lasers, that allow it to address the needs of large-volume serial production clients.
Elsewhere, in a more application-focused approach, 3D Systems is developing the “world’s largest 3D printer” for the U.S. Army. The machine’s 1m x 1m x 600mm build area is designed to enable the fabrication of parts that address the ammunition, vehicle, helicopter, and missile defense demands of the Armed Forces.