March 01, 2022
MEDFORD, Mass. — OPT Industries (www.optindustries.com), the manufacturing technology startup behind the InstaSwab™ high-efficacy medical applicator, today announced it has raised $15 million in Series A financing led by global science- and technology-driven venture capital firm Northpond Ventures with participation from existing investors Crosslink Capital and the MIT-affiliated E14 Fund.
OPT’s proprietary additive manufacturing system — built upon over seven years of R&D in 3D printing and computational fabrication at MIT— enables the 3D printing of continuous materials and products at unlimited lengths with micron-level precision. At the heart of the system is RAMP™, OPT’s flagship technology and the world’s first roll-to-roll 3D printing platform.
“As an advanced manufacturing company, we see the value in building micro-scale technologies that solve macro-scale challenges,” said Jifei Ou, founder and CEO of OPT. “OPT works with customers to design and manufacture a novel range of metamaterials and products for the healthcare, automotive, cosmetics and consumer goods industries, and beyond. We will leverage the new financing to address the demand for InstaSwab™, fuel product development, scale operations and grow the team.” Read rest here.