H3D, an AI-powered 3D printing startup that makes custom healthcare products, has raised $5.8 million in Series A funding.
The company started in 2018 at Swinburne University, which, along with Starfish Ventures, was its first investor. Cofounder and CTO Dr. Philip Kinsella developed fully automated design technology at Swinburne, helping H3D become a global leader in the hearing sector. Its products include hearing aids, noise protection devices, and custom-fit earphones.
The new investment round was led by Significant Ventures (the VC arm of Canberra’s Hindmarsh family) with participation from Swinburne and new investor Co:Act Capital.
Today, H3D has offices in Australia, Denmark, and Ireland. Its automated CAD (computer-aided design) technology allows hearing labs to complete hundreds of complex, custom-fit jobs in just minutes.
The new funding will help H3D expand its technology into dental labs around the world while continuing to grow its business in the hearing sector.
The company has also created a smartphone-based 3D scanning tool for custom-fit ear products, which is ready to be launched.
H3D’s new mobile phone scanning solution uses computer vision, AI, and AR to capture a precise 3D scan of the ear with just a smartphone camera. This removes the need for the old method of making physical ear impressions.
“This funding marks a pivotal step in meeting the future vision of AI digital manufacturing,” Mcleod said.
CEO Iain Mcleod explained that H3D’s manufacturing platform can solve major problems in the dental sector, such as a shortage of technicians, the use of complicated manual CAD software, and errors caused by human work.
With H3D’s AI-powered CAD technology, labs can process hundreds of cases at the same time in just minutes, compared to the 30 minutes it usually takes a dental technician to complete a single job.
“This funding marks a pivotal step in meeting the future vision of AI digital manufacturing,” Mcleod said.
“Combining machine learning, advanced 3D algorithms and real-time cloud processing into a seamless manufacturing solution will be hugely impactful to patients receiving dental and hearing care. We are extremely grateful to our investors and our customers for believing in H3D’s exceptional team and our mission.”
Co:Act Capital partner Kate Eriksson said: “H3D brings together vision and world-class technology to deliver real value for customers in two fast-growing global markets – hearing and dental.”
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