Toronto-based Tri-D Technologies Inc., developer of software for manufacturers that work with composites, industrial fabrics and technical textiles, closed a “significant” undisclosed Series B financing. The deal involved new investors MaRS Investment Accelerator Fund and Caldwell ICM Market Strategies Trust, as well as previous investors, which include Innovation Grade Ventures. The new funds will be used to accelerate market development and commercialization of the company’s flagship product ExactFlat Design Studio.
Tri-D Technologies, Makers of ExactFlat, Continues Its Market Growth by Securing Series B Financing
ExactFlat enables manufacturers working with composites, industrial fabrics and technical textiles to design, flatten, pattern, nest, cost and document their products inside leading 3D CAD platforms, including SolidWorks.
Toronto, ON, July 19, 2013 – Tri-D Technologies Inc., makers of the ExactFlat suite of software, is proud to announce the closing of a significant Series B financing. The funds will be used to accelerate market development and commercialization of its flagship product: ExactFlat Design Studio.
“ExactFlat is software that makes it faster and less complicated for hundreds of thousands of engineers to design, develop, prototype, cost and manufacture products that incorporate composites, industrial fabrics or technical textiles. ExactFlat is uniquely positioned to serve the needs of this segment as they shift from older manual process and 2D CAD, to modern, advanced parametric 3D CAD,” stated Eaton Donald, CEO of Tri-D Technologies Inc.
“Forty percent of the round was from previous investors. We are delighted that our investors continue to support our efforts to capitalize on this lucrative and underserved market opportunity. Notable new investors include the Caldwell ICM Market Strategies Trust, and the Investment Accelerator Fund,” added Mr. Donald.
ExactFlat extends the capabilities of SolidWorks to enable: automatic flattening of 3D CAD files into 2D flat patterns; the addition of design features such as notching, seam allowances, and grain lines; automated (and parametrically-linked) nesting; and drag-and-drop documentation, costing, bill of materials, and manufacturing routing.
“ExactFlat exemplifies the profile of a company that the IAF supports – a highly experienced team targeting a very large addressable market, with a differentiated product that has been validated across multiple industries,” shared Shirley Speakman from the IAF. “With leading manufacturers in industries such as automotive, marine, industrial and composites already using ExactFlat and seeing tremendous productivity improvements, we couldn’t be more excited to be involved in the continuation of Tri-D’s market growth.”
“Our customers have validated that sewn products represent a growth segment to be revolutionized by leading 3D CAD platforms like SolidWorks”, stated Mark Jewell, Founder and CTO of Tri-D. “Our integration with the SolidWorks platform means a rich re-seller network, large user base and a global ecosystem within which we can continue to innovate. Every manufacturer working with fabrics, composites and other flexible materials can benefit from ExactFlat, and we look forward to further building our loyal customer base.”
About Tri-D Technologies Inc.
Tri-D Technologies builds software for manufacturers that work with composites, industrial fabrics, and technical textiles. We help companies bring their products to market faster, with lower effort, lower cost, and a simpler process.
About the Investment Accelerator Fund
The Investment Accelerator Fund (IAF) (@MaRSIAF) provides up to $500,000 in seed funding to qualified emerging companies in Ontario. A critical component of the Ontario Network of Entrepreneurs (ONE), the IAF supports the launch and development of innovative companies in Ontario’s priority sectors of advanced materials and manufacturing, information technology, cleantech and life sciences. To learn more, visit www.marsdd.com/aboutmars/partners/iaf.
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