“This could be the first signal in a market shift that we have all been waiting for that could open up venture risk-taking and open up the IPO market in H2 2024.” –Tiger
website – https://www.restor3d.com/
3D Orthopedic Implant Tech Startup Restor3d Lands $70M Financing (Crunchbase News)
Restor3d, a North Carolina-based maker of 3D printed personalized orthopedic implants, locked up a $70 million financing — even as investors continue to cool on 3D tech startups.
The round includes a $55 million Series A round led by Summers Value Partners and existing investors plus an additional $15 million in debt financing led by Trinity Capital.
“This fundraising round is a testament to the confidence our investors have in restor3d’s vision and potential,” said CEO Kurt Jacobus. “With this capital, we can accelerate our efforts to transform orthopedic care through 3D printed personalized implants.”
The startup plays at a unique intersection of healthcare/biotech, AI and 3D technology. The firm uses biomaterials, 3D-printing technologies and AI to help repair the human body. It is planning to introduce new implant systems for total ankle and shoulder replacements, offering 3D printed solutions that fit the unique anatomy of the individual patients.
Founded in 2017, the company has raised nearly $150 million, per Crunchbase.
3D funding drops
Restor3d’s funding is an unusually big bet by investors on 3D tech.
While the sector saw big money in 2021 and 2022, the past two years have seen the sector come back down to the new reality.
Although VC-backed startups in the sector saw more than $2.4 billion invested in 2022, that number dropped to only about $1 billion last year, per Crunchbase data.
It is on a similar trajectory this year, with only about $424 million raised thus far.
Restor3d’s raise is the second biggest in the industry this year, behind only Exodigo’s $75 million Series A in February. That startup offers subsurface image mapping solutions.