Chicago’s Fast Radius is coaxing manufacturers toward a virtual just-in-time supply chain.
Fast Radius, a Chicago company that’s developing commercial-scale 3D printing for manufacturers, has raised another $48 million.
The funding, led by UPS, which backed the company when it launched four years ago, also included Drive Capital, a venture fund in Columbus, Ohio; as well as Chicago-based investors Hyde Park Venture Partners, Jump Capital and Michael Polsky’s Skydeck Capital.
Fast Radius will use the money to build out the software platform used by customers to design, produce and track on-demand parts on Fast Radius machines. The company’s goal is to put manufacturing facilities next to transportation hubs so it can provide a virtual just-in-time supply chain to customers.