Belfast medtech Axial3D raises $15m to bring 3D printing to hospitals

9 Nov 2022

Image: Axial3D

Following a strategic investment, Stratasys is partnering with Axial3D to make 3D printing more accessible in healthcare.

Belfast-based medtech company Axial3D has bagged $15m in investment led by Stratasys.

Stratasys, an Israeli company that provides 3D printers and materials for anatomic models, led the round with a $10m strategic investment.

The two companies are now partnering to make patient-specific 3D printing more accessible to hospitals and medical device manufacturers.

Founded in 2015 by Daniel Crawford, Axial3D helps create patient-specific anatomical models for preoperative planning, custom implants, medical device prototyping and custom prosthetics, as well as teaching and training.

It has been supported by Invest NI since its inception and initial investment came from Techstart Ventures. It has previously also raised funding from London-based Imprimatur Capital Fund Management and angel investors from the surgical sector in the US.

Axial3D CEO Roger Johnston said that the team has always believed in Stratasys’s “vision for 3D printing in healthcare”.

“We believe that to move the industry from early adopters to the mainstream, we need to improve the accessibility of models for healthcare so hospitals and medical device manufacturers can scale their patient-specific programmes,” he said.

“Our joint offerings will be the positive, disruptive catalyst that medical 3D printing needs to address 3D printing accessibility.”

Stratasys, which develops 3D printing tech used by many of the world’s leading hospitals for medical models, estimates that the medical 3D printing market presents a $2.8bn opportunity.

“We believe that by working together with Axial3D, we can remove the barriers to entry for the remaining majority of hospitals in many countries around the world, dramatically growing the use of 3D printing in pre-surgical planning so it is truly a standard part of patient care,” said Stratasys CEO Dr Yoav Zeif.

“This is about providing a complete tailored solution for customers that is fast, automated and scalable.”

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Vish Gain is a journalist with Silicon Republic