UPS led a $48 million series B funding round for 3D printing startup Fast Radius. UPS has been working with Fast Radius since early 2016, and the 3PL has participated in two previous rounds of funding for the company via the UPS Strategic Enterprise Fund. Additive manufacturing is increasingly becoming the logical direction for future supply chain strategies, blurring the lines between physical and virtual warehousing for products in many industries. Fast Radius’ technology platform and additive manufacturing design processes are bringing the virtual warehouse vision to life for their customers, complementing UPS’ global time-definite logistics expertise. The funding will be used to expand Fast Radius’ global footprint and scale up its software development, application engineering and sales teams. UPS had 3D printing capabilities in more than 60 locations, and Fast Radius had software and a 3D printing factory in Louisville, Kentucky. Fast Radius’s software can aid in the design, development and manufacturing of industrial-grade parts. 3D printing promises faster design and speed to market with the ability to easily make changes to the manufacturing process. And localized production can simplify supply chains and lead to less reliance on suppliers.
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