Evonik Industries’ venture capital arm has invested in an Israeli software start-up which has developed a platform to assess the printability of part designs and the best material option.
Castor Technologies has brought the technology to market to help manufacturers identify suitable 3D printing applications and save cost and time in doing so. Joining Evonik in the funding round was Chartered Group and TAU Ventures, the capital fund of Tel Aviv University.
Partnering with Castor, Evonik has pledged to contribute its material expertise and help make the software accessible to all industries. Castor currently serves companies in the automotive, aerospace, medical device and logistics market. Its software is complementary to CAD platforms and enables users to conduct technical and economic analysis of existing CAD files of large assemblies or multiple single parts simultaneously. Reports will then show the break-even point for additive manufacturing against traditional methods.
Castor believes the platform helps companies identify the low hanging fruit applications and thus enables a lower-risk adoption of additive manufacturing. A service to industry, Castor says, will be enhanced by the involvement of Evonik.
“Our vision is to be the manufacturers’ gateway to industrial 3D printing,” offered Omer Blaier, Chief Executive Officer at Castor. “Evonik’s expertise in 3D printed polymers combined with Castor’s ability to identify unmet needs in material properties is the right combination to improve our customers’ products.”
“Castor occupies an exciting space in the 3D printing market, helping companies overcome the hurdles associated with adopting the technology,” commented Bernhard Mohr, Head of Evonik’s venture capital activities. “The investment perfectly complements our existing portfolio of 3D printing activities and is our second investment in Israel, one of the most active start-up ecosystems in the world.”
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