Caracol, large-scale 3D printing scale-up, closes a Series A round of over 10 million Euros and starts internationalization

05 mar 2023 Primo Space Fund

Barlassina (MB), [03 March 2023] - Caracol, leader in large-scale industrial 3D printing, closes a 10.6 million euro Series A investment round with CDP Venture Capital and Neva SGR, Venture Capital of the Intesa Sanpaolo Group , as well as Primo Space Fund and EUREKA! Venture SGR – funds that had previously invested in Caracol.

This round, which came at the end of a growth path that led Caracol to triple its turnover in 2022, consolidates the leadership of the company and its large-scale Additive Manufacturing technological solution Heron AM, laying the foundations for the path of international expansion. The transaction was completed thanks to the support and coordination of the financial advisor Growth Capital, together with the law firms Fieldfisher, HiLex, Almasta and Linklaters.

The capital raised will project Caracol towards a global future, supporting it in achieving the various objectives of its strategic plan.

“This round is the culmination of a path of strong growth, which has led to the validation of our solutions by leaders in sectors like Aerospace and Nautical. Thanks to the trust of the main Italian investment funds and the great support received from the advisors, coordinated by Growth Capital in this operation, we will now have the possibility to accelerate the expansion of our solutions in global markets, continuing to develop and consolidate the technology that will lead the manufacturing world towards a more efficient and sustainable future” comments the CEO and co-founder of Caracol, Francesco De Stefano.

Caracol will expand the presence of Heron AM technology on an international scale. Following the market launch in September last year, the goal is to equip the manufacturing companies in advanced sectors with a cutting-edge tool that allows them to overcome the limits of efficiency, sustainability and flexibility of traditional production processes.

Through the round, the network of partners for the technical development and marketing of Heron AM will therefore be further developed in the main European and world markets. In addition, to consolidate its presence in key regions, Caracol will open two new offices in North America and the Middle East, with dedicated local teams.

The operation will lead the company workforce to triple within 2 years, exceeding 120 employees in 2024.

All this will be supported and assisted by investments in Research and Development in the order of 40% of turnover, an aspect on which the company has built its technological leadership over the years. The goal is to continue the all-round development path of the HERON AM TM large format printing hardware and software platform, going to expand the range of processed materials, widening the market of potential applications produced and improving the technical performance of the proposed solution.

"We are very happy to be able to support Caracol's growth path" comments Enrico Filì, Head of the Industry Tech sector of the Corporate Partners I fund of CDP Venture Leading Additive Manufacturing Beyond Capital, "This is a further operation of our IndustryTech sector launched together with large industrial groups such as the Adler Group, Camozzi, Bolton and Marcegaglia. This investment represents an excellent example of Italian technology that intercepts the needs of the manufacturing sector, a central strategy for our fund, and rewards a first-rate team with ambitious growth objectives in international markets".

“Neva SGR continues to invest in Italy and does so in a sector that has always been central to the economy of our country, the manufacturing Industry 4.0. The investment in Caracol, in its technology and in its attention to sustainability and the circular economy, goes in the direction of rewarding an Italian excellence ready to grow on international markets" - says Mario Costantini, CEO and General Manager of Neva SGR .

Matteo Cascinari, General Partner of Primo Space Fund: "Caracol was able to affirm its solutions in a very short time in various sectors and especially in the space sector, notoriously very complex and advanced from a technological point of view, even with attention to sustainability. Together with other qualified investors, we will finance the further phase of growth and international expansion of the company, confident that the founders and the whole team will be able to face the challenge with ability and determination"

Stefano Peroncini, EUREKA CEO! Venture SGR, “Through to this new important investment round, we renew the trust of Eureka! in Caracol and its brilliant team, which has demonstrated its ability to effectively implement an ambitious technological and entrepreneurial development plan, which integrates and enhances robotics and additive manufacturing, with a distinctive approach in terms of circularity and sustainability"

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