Company:Markforged

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Short description: U.S. industrial company
Markforged
TypePublic
NYSE: MKFG
IndustryAdditive manufacturing
Genre3D printing
Founded2013; 11 years ago (2013)[1]
FoundersGregory Mark[2]
David Benhaim
Headquarters
Waltham, Massachusetts
,
United States [3]
Key people
Gregory Mark (Founder)

David Benhaim (Co-Founder & CTO) Shai Terem (CEO & President)

Mark Schwartz (CFO)[3]
Products3D printing systems
Websitewww.markforged.com

Markforged is an American public additive manufacturing company that designs, develops, and manufactures The Digital Forge — an industrial platform of 3D printers, software and materials that enables manufacturers to print parts at the point-of-need. The company is headquartered in Waltham, Massachusetts,[4] in the Greater Boston Area. Markforged was founded by Gregory Mark and the chief technology officer (CTO) David Benhaim in 2013. It produced the first 3D printers capable of printing continuous carbon fiber reinforcement and utilizes a cloud architecture.

History

2014–2016

The company began as a start-up at SolidWorks World 2014 in San Diego with a working prototype of the "Mark One" printer, capable of printing in continuous carbon fiber (the first to do so), fiberglass, nylon and polylactic acid (PLA).[2] Production machines can also print kevlar.[5]

At the 2015 Consumer Electronics Show, Markforged unveiled its cloud-based 3D printing software Eiger,[6] which allowed for easier collaboration for a team through a cloud-based workflow process.[7]

2017

At the 2017 Consumer Electronics Show, Markforged unveiled the Metal X, which is a 3D printer capable of 3D printing metal parts at a low cost, under $100k.[8] The process has been referred to as ADAM (Atomic Diffusion Additive Manufacturing) technology and it has an in-process laser inspection for dimensional accuracy.[5] Metal 3D printers at the time cost between $500,000 and $1 million.[9]

2018

In March 2018, Markforged was sued by a rival 3D-printer manufacturer, Desktop Metal, which claimed intellectual property theft and patent infringement in regard to methods patented by Desktop Metal involving "adding layers of an easily removed material to a printed metal product".[10] A finding in favor of Markforged was rendered in the patent infringement case in July 2018.[11]

2019

In January 2019, a new UL Standard, 2904, "ANSI/CAN/UL Standard Method for Testing and Assessing Particle and Chemical Emissions from 3D Printers", was published[12] Markforged noted in October 2019 that it was pursuing certification against this new standard, claiming that it uses "a plastic compound that generates lower emissions than many competing machines".[13] In December 2019, Markforged appointed Shai Terem as president and chief operating officer. Terem joined the team from Kornit Digital, a digital printing company specialising in textiles, where he was president of the Americas region. Terem had previous experience in additive manufacturing, having worked at Stratasys years before.[14]

2020

In early 2020, Markforged became the first known additive manufacturing platform to achieve ISO/IEC 27001 Certification. ISO/IEC 27001:2013 is an Information Security Management System (ISMS) standard published by the International Organization for Standardization (ISO) and the International Electrotechnical Commission (IEC).[15] The certification was applied to Markforged's hardware and Eiger cloud and fleet management software, showing that they meet rigorous international standards in privacy, confidentiality and integrity.[16] In February 2020, the company began to market a 3D-printer system capable of printing pure copper, a version of the company's "Metal X" system; the methodology had been in development for some time and involves the use of plastic-encapsulated copper pellets as the raw material.[17]

During the COVID-19 pandemic, Markforged helped to produce over 6,000 face shields in the first three months and partnered with a company called Neurophotometrics to produce Fiberflex Rayon, a 3D printed nasopharyngeal swab for use in diagnostic testing for COVID-19.[18] The effort was renamed Swab56, which developed 55 prototypes over the course of 36 hours before a final design was reached.[19] In October, Markforged announced that Terem was promoted to chief executive officer and president, while the founder Gregory Mark had moved to the role of chairman.[20] The company also announced the launch of The Digital Forge, a cloud-based platform that the company states is the first industrial Additive Manufacturing platform leveraging AI.[21]

2021–2023

In December 2021, Markforged announced its plans to move to a new corporate headquarters at 60 Tower Rd in Waltham, Massachusetts, to accommodate the company’s growth.[4] The move was planned to be completed in the fall of 2022, and as of February 2023 the new headquarters is currently operational.

Products

Markforged offers an additive manufacturing platform called The Digital Forge.[22] The platform combines the company's range of products, which include 3D printers, software and materials, with AI technology.[21] All products are developed and produced in the company's home state of Massachusetts.[23] In order to streamline the development of its systems and ensure quality for the end-user, Markforged manages the full 3D printing development stack in-house. Commercial sales are conducted through an indirect channel of value-added resellers and partners throughout the world.

Metal 3D printers

The Metal X system produces metal parts using the Atomic Diffusion Additive Manufacturing (ADAM) process[24] - a combination of material extrusion-based additive manufacturing and metal injection molding. "Green parts" composed of metal powder and a polymer binder are printed by the Metal X printer.[25] Next, solvent is used to remove a portion of the binder material from the printed parts, leaving "brown" parts. Finally, after thermal debinding and sintering, near net-shape metal parts are produced.

The system was announced in 2017[26] and launched in 2018, consisting of the Metal X printer, Wash-1 debinding station, and Sinter-1 furnace. The Metal X printer has a build volume of 300mm x 220mm x 180mm. Available materials on the Metal X system include 17-4PH stainless steel, tool steels (H13, A2, D2), Inconel 625, and pure Copper.[27] In 2019, Markforged released the Sinter-2, a larger furnace with four times the sintering workload of Sinter-1.[24]

Industrial composite 3D printers

Markforged industrial composite printers produce parts using a material extrusion process with continuous fiber reinforcement. A dual-extruder system deposits a composite base material to form the shells and infill with the primary nozzle, and using a secondary nozzle, deposits a reinforced filament containing a core of high tensile strength continuous fibers.[28] Because the fibers are contained in a filament, the printer is capable of freely orienting the fibers[29] within the print plane.

The X7 (previously called Mark X) was released at the end of 2016 with accuracy improvements, a stiffer gantry, and larger build volume of 330mm x 270mm x 200mm, 2.5 times larger than that of the Mark Two.[30] The printer also has a laser micrometer used for bed leveling and part inspection. In 2017, Markforged announced the X3 and X5 printers on the same chassis with modified hardware. Both machines print using Onyx, and the X5 has the ability to add continuous fiberglass reinforcement.[31]

Desktop composite 3D printers

Markforged released the first commercial continuous fiber printers in 2014,[32] starting with the Mark One. The printer had an anodized aluminium unibody and the ability to print with strands of continuous carbon fiber.[citation needed]

The Mark Two was released in early 2016 as an update to the Mark One. Enhancements include the relocation of the fiber cutter to the print head, motion system improvements, on-printer calibration utilities, and the introduction of a micro carbon fiber filled nylon filament called Onyx.[33]

Business

In July 2013, Markforged raised $1.1 million in seed funding from North Bridge Venture Partners and Matrix Partners and, in May 2014, the company raised $8.5 million in series A funding.[34][10] By 2017, Markforged has secured investments from Microsoft Ventures, Porsche SE, Tinity Ventures and Siemens-backed Next47 amounting to US$57 million.[35][10] By 2017, the venture capital firms Matrix Partners, Trinity Ventures and Northbridge Venture Partners had contributed funding as well.[1] By March 2019, Markforged reached funding of US$136.8 million since its founding after raising $82 million in series D funding led by Summit Partners.[36][37]

Markforged's business model is based on the sale of industrial 3D printers to replace traditional metal manufacturing methods, with the prediction that companies will find parallel printing across many machines continuously to be attractive.[1] The company competes with legacy 3D printing companies like Stratasys, 3D Systems and HP, as well as newer startups like Desktop Metal and Carbon.[37]

References

  1. ↑ 1.0 1.1 1.2 Bray, Hiawatha (October 23, 2017). "New generation of 3-D printers can make objects of steel". Boston Globe 292 (115): pp. B8, B10. https://www.newspapers.com/clip/47641377/the-boston-globe/.  This is the second part of the article, from page B10; here is the segment on page B8: "Thinking Outside the Mold".
  2. ↑ 2.0 2.1 Chang, Alexandra (January 27, 2014). "New 3D Printer by MarkForged Can Print With Carbon Fiber". New York, New York: Hearst. https://www.popularmechanics.com/technology/gadgets/a10025/new-3d-printer-by-markforged-can-print-with-carbon-fiber-16428727/. 
  3. ↑ 3.0 3.1 Garsten, Ed (February 13, 2020). "Copper 3D Printing Breakthrough Could Cut Cost Of Electric Vehicle Parts, Boost Power". Jersey City, New Jersey. https://www.forbes.com/sites/edgarsten/2020/02/13/copper-3d-printing-breakthrough-could-cut-costs-boost-ev-power/#15db828670f9. 
  4. ↑ 4.0 4.1 "Markforged Announces New Global Corporate Headquarters To Accommodate…" (in en). https://markforged.com/resources/news-events/markforged-announces-new-global-corporate-headquarters-to-accommodate-companys-growth. 
  5. ↑ 5.0 5.1 "Additive Manufacturing: New Trends in the 4th Industrial Revolution". Proceedings of the 4th International Conference on the Industry 4.0 Model for Advanced Manufacturing (AMP 2019). Springer. 2019. pp. 159. ISBN 978-3-030-18180-2. https://books.google.com/books?id=wwaWDwAAQBAJ&dq=MarkForged&pg=PA159. 
  6. ↑ "MarkForged Unveils New Cloud-based Software at CES 2015". https://www.prnewswire.com/news-releases/markforged-unveils-new-cloud-based-software-at-ces-2015-300016213.html. 
  7. ↑ "MarkForged Announces Cloud Based Software for Mark One, Carbon Fiber 3D Printer". January 6, 2015. https://3dprint.com/35404/markforged-cloud-software/. 
    - O'Connor, Daniel (January 8, 2015). "Hands on with MarkForged's new cloud-based software". https://www.tctmagazine.com/api/content/5c6b9736-9783-11e4-95bc-22000a4f82a6/. 
  8. ↑ "Metal X 3D Printer Brings Metal to the Workshop for Under $100K". https://www.engineering.com/3DPrinting/3DPrintingArticles/ArticleID/14071/Metal-X-3D-Printer-Brings-Metal-to-the-Workshop-for-Under-100K.aspx. 
    - O'Connor, Daniel (January 6, 2017). "Markforged strike in the quest for affordable metal 3D printing". https://www.tctmagazine.com/api/content/0af7b6a2-d429-11e6-af13-0aea2a882f79/. 
  9. ↑ Murphy, Mike (November 1, 2017). "3D printing has gone metal". https://qz.com/1116503/microsoft-msft-porsche-vow-and-siemens-sie-invest-in-metal-3d-printer-company-markforged/. 
  10. ↑ 10.0 10.1 10.2 Bray, Hiawatha (July 14, 2018). "Makers of 3-D printers in battle". Boston Globe 294 (14): p. A8. https://www.newspapers.com/clip/47640449/the-boston-globe/. 
  11. ↑ Bray, Hiawatha (July 31, 2018). "Watertown Company Wins First Round in 3-D Printing Court Fight". Boston Globe 294 (31): p. C3. https://www.newspapers.com/clip/47642476/the-boston-globe/. 
  12. ↑ "Standard 2904, Edition 1". https://www.shopulstandards.com/ProductDetail.aspx?UniqueKey=35397. 
  13. ↑ Bray, Hiawatha (October 2, 2019). "Some 3-D printers could emit dangerous gases, microscopic plastic". Boston Globe: pp. B6, B9. https://www.newspapers.com/clip/47643776/the-boston-globe/.  This is the second part of the article, from page B9; here is the segment on page B6: "Some 3-D printers could be hazardous"
  14. ↑ "Markforged Appoints Shai Terem as President and Chief Operating Officer". December 3, 2019. https://www.businesswire.com/news/home/20191203005150/en/Markforged-Appoints-Shai-Terem-as-President-and-Chief-Operating-Officer. 
  15. ↑ Griffiths, Laura (February 7, 2020). "Markforged 3D printing platform achieves ISO 27001 security certification". https://www.tctmagazine.com/api/content/809ba9f0-498c-11ea-80ba-1244d5f7c7c6/. 
  16. ↑ "Markforged achieves ISO 27001 certification". February 19, 2020. https://www.metal-am.com/markforged-achieves-iso-27001-certification/. 
  17. ↑ Garsten, Ed (February 13, 2020). "Copper 3D Printing Breakthrough Could Cut Cost Of Electric Vehicle Parts, Boost Power". https://www.forbes.com/sites/edgarsten/2020/02/13/copper-3d-printing-breakthrough-could-cut-costs-boost-ev-power/. 
  18. ↑ "Neurophotometrics and Markforged Announce New 3D Printed Nasal Swab that Provides Better Accuracy than Current COVID-19 Testing". Bloomberg. April 9, 2020. https://www.bloomberg.com/press-releases/2020-04-09/neurophotometrics-and-markforged-announce-new-3d-printed-nasal-swab-that-provides-better-accuracy-than-current-covid-19-testing. 
  19. ↑ "This Boston Company Helped Create 6,000 Face Shields by Leveraging Its Digital Community". https://www.builtinboston.com/2020/06/04/markforged-helped-create-face-shields-digital-community. 
  20. ↑ "Markforged Gets New CEO as Founder Gregory Mark Becomes Chairman". October 30, 2020. https://3dprint.com/274819/markforged-gets-new-ceo-as-founder-gregory-mark-becomes-chairman/. 
    - "Markforged Names New CEO". October 29, 2020. https://www.fabbaloo.com/blog/2020/10/29/markforged-names-new-ceo. 
    - "Markforged Names Shai Terem as President & Chief Executive Officer, and Names Founder Gregory Mark to Chairman". October 29, 2020. https://www.businesswire.com/news/home/20201029005790/en/Markforged-Names-Shai-Terem-as-President-Chief-Executive-Officer-and-Names-Founder-Gregory-Mark-to-Chairman. 
  21. ↑ 21.0 21.1 Goehrke, Sarah (November 5, 2020). "AM Meets AI: How Markforged Connects Industrial 3D Printers For Smarter Manufacturing". https://www.forbes.com/sites/sarahgoehrke/2020/11/05/am-meets-ai-how-the-digital-forge-connects-industrial-3d-printers-for-smarter-manufacturing/. 
  22. ↑ Davies, Sam (2020-11-06). "Markforged launches Digital Forge software to connect 3D printing products". https://www.tctmagazine.com/api/content/5cb640ee-2015-11eb-93d6-1244d5f7c7c6/. 
  23. ↑ "Markforged opens new facility to support 3D printer materials production". October 23, 2019. https://3dprintingindustry.com/news/markforged-opens-new-facility-to-support-3d-printer-materials-production-163761/. 
  24. ↑ 24.0 24.1 "Markforged Metal X: Review the Specs & Use Cases". 2019-11-05. https://all3dp.com/1/markforged-metal-x-review-3d-printer-specs/. 
  25. ↑ Muscolo, Tom. "Forging Solutions for the Future of 3D Printing". SME. https://www.sme.org/technologies/articles/2020/august/forging-solutions-for-the-future-of-3d-printing/. 
  26. ↑ Michael Molitch-Hou (January 10, 2017). "Metal X 3D Printer Brings Metal to the Workshop for Under $100K". https://new.engineering.com/story/metal-x-3d-printer-brings-metal-to-the-workshop-for-under-100k. 
  27. ↑ "Markforged releases pure Copper material for Metal X". February 13, 2020. https://www.3dprintingmedia.network/markforged-pure-copper-metal-x/. 
  28. ↑ "Markforged Continuous Fiber Composite Material Testing". Los Alamos National Laboratory. September 30, 2020. https://permalink.lanl.gov/object/tr?what=info:lanl-repo/lareport/LA-UR-20-25195. 
  29. ↑ Sanei, Seyed Hamid Reza. "MECHANICAL PROPERTIES OF 3D PRINTED FIBER REINFORCED THERMOPLASTIC". ASME 2019 International Mechanical Engineering Congress and Exposition. https://www.academia.edu/42017567. 
  30. ↑ "Decision Maker's Guide to Carbon Fiber 3D Printing". July 21, 2020. https://all3dp.com/1/carbon-fiber-3d-printing-a-guide-for-decision-makers/. 
    - "The Markforged Mark X lets you teleport precision custom parts from designer to printer". https://social.techcrunch.com/2016/10/11/the-markforged-mark-x-lets-you-teleport-precision-custom-parts-from-designer-to-printer/. 
  31. ↑ "Markforged announces two 3D printers that produce items as strong as steel". https://social.techcrunch.com/2017/08/21/markforged-announces-two-3d-printers-that-produce-items-as-strong-as-steel/. 
  32. ↑ Dickson, Andrew (August 2018). "Additive Manufacturing of Woven Carbon Fibre Polymer Composites". Composite Structures 206: 637–643. doi:10.1016/j.compstruct.2018.08.091. https://www.researchgate.net/publication/327341788. 
  33. ↑ "Markforged Changes 3D Printing Once Again with the Mark X 3D Printer". https://www.engineering.com/BIM/ArticleID/13294/Markforged-Changes-3D-Printing-Once-Again-with-the-Mark-X-3D-Printer.aspx. 
  34. ↑ "With $1.1 million in bank, MarkForged prepares to deliver first-of-its-kind 3D printer". http://www.betaboston.com/news/2014/03/07/with-1-1-million-in-funding-markforged-prepares-to-start-delivering-first-of-a-kind-3d-printer/. 
  35. ↑ "Microsoft, Siemens and Porsche invest $30 million in Markforged, update on Metal X". November 1, 2017. https://3dprintingindustry.com/news/microsoft-siemens-porsche-invest-30-million-markforged-update-metal-x-123620/. 
    - "Markforged raises $30 million from industrial investors". https://social.techcrunch.com/2017/11/01/markforged-raises-30-million-from-industrial-investors/. 
  36. ↑ "Markforged raises $82 million for its industrial 3D printers". https://social.techcrunch.com/2019/03/20/markforged-raises-82-million-for-its-industrial-3d-printers/. 
  37. ↑ 37.0 37.1 Bray, Hiawatha (March 21, 2019). "3-D Printing Firm Scores More Impressive Fund-Raising". Boston Globe 295 (80): p. B7. https://www.newspapers.com/clip/47642772/the-boston-globe/. 



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