Chennai-based start-up ThinkMetal, specializing in industrial metal 3D printing solutions, has secured $800,000 (approximately ₹6.7 crore) in a pre-Series A funding round. The funding round was spearheaded by YourNest Venture Capital as part of the YourNest-SanchiConnect Velocity Program 2024, with co-investors including Concept Communications and Sanchi Connect. This comes after ThinkMetal previously raised $300,000 in a seed round led by 100X.VC.
Established in March 2021 by Sabyasachi Ghosh and Arushi Sharma, ThinkMetal offers a solution that allows manufacturers to produce metal parts 10 times faster and at half the cost using their proprietary SistemT1 3D printer. The start-up’s innovative approach aims to disrupt traditional manufacturing methods that typically take 2–4 weeks to deliver metal parts like moulds, dies, jigs, and fixtures. With SistemT1, manufacturers can produce these parts in a matter of hours at a significantly lower cost, providing a competitive advantage.
The fresh capital raised will be utilized to finalize production readiness and launch the first-generation product, SistemT1. Additionally, ThinkMetal plans to enhance its software capabilities, streamline processes, and expand its team across key areas such as sales, operations, design, and software development.
Having initially collaborated during the SpaceX Hyperloop Pod Competition as engineering students at SRM University, the founders are excited about the future prospects for ThinkMetal. Sabyasachi Ghosh, Co-founder & CEO, expressed enthusiasm for the partnership with investors who share their vision of revolutionizing manufacturing through innovative materials and processes. He emphasized the potential impact on SMEs in terms of faster turnaround times, improved operational efficiency, and sustained competitiveness.
ThinkMetal already serves customers like Ants Ceramics, ZeQube Technologies, and Hosur CNC, focusing on urban medium-scale and small-scale manufacturers through paid pilots. In the global landscape, notable players in the industrial metal 3D printing industry include Markforged, Desktop Metal, and EOS.
In conclusion, ThinkMetal’s latest funding round marks a significant milestone in their journey towards reshaping the manufacturing industry, with ambitious plans for growth, innovation, and customer empowerment.
