MT Magazine March/April 2023

FEATURE STORY

28

ADDITIVE ISSUE

emerging manufacturing technology category begins with an analysis of these financial leading indicators. In high-growth technologies or industries, financial investments are typically announced publicly and often include dollar amounts. When taken in aggregate, these announcements reflect the collective entrepreneurial activity of the sector and the interest levels from financial and corporate strategic investors. Reviewing these data and trends in the face of 2022 headwinds shows the beginnings of a striking shift in focus for investors and acquirers. Additive Manufacturing Minority Investments Investments in additive manufacturing are grouped into four categories based on technology and positions across the value chain: materials, core, software, and applications. Materials investments cover material suppliers, formulators, and developers. Core investments represent AM processes, 3D printers, and post-processing equipment developers alongside 3D printing service providers, online marketplaces, and

other hardware technology enablers. The software category represents companies with a specialization in additive manufacturing software across any part of the computer-aided design, engineering, or manufacturing workflow. Applications companies include specialized service companies focused on a particular industry or product class, such as dental appliances, automotive, or antennas. (Note: All investment data excludes biological, construction, food, and desktop consumer-focused 3D printing companies.) Global venture capital investment in additive manufacturing companies has grown 36.7% annually from $389 million in 2017 to $1.853 billion in 2022. The incredible momentum gained in 2021 continued well into 2022 with an additional $514 million in funding. Disproportionate gains relative to 2021 were centered on core and applications categories, with $1.039 billion and $615 million invested, respectively. AMT – The Association For Manufacturing Technology identified five outlier transactions that together make up $707 million split between dental applications and core categories. While uncharacteristically