North West Fund backs FDM
The North West Fund for Venture Capital and the Lancashire Rosebud Fund have injected £860,000 into UK-based 3D printing company FDM Digital Solutions.
The two funds are managed by Enterprise Ventures. The North West Fund supplied £688,000 in the funding round, with Rosebud committing the balance (£172,000).
The capital injection will be used by FDM to invest in new 3D printing technology.
Company
Founded in 2011 and headquartered in Burnley in Lancashire, FDM uses 3D printing technology to produce made-to-measure insoles for the UK's National Health Service (NHS). FDM's technology is designed to allow NHS hospitals to scan a patient's foot shape and email the scan to FDM, which will then print the insoles using additive manufacturing techniques and deliver them.
The company predominantly serves the medical industry, but is also active in printing components for the aerospace, engineering and automotive sectors.
People
James Saunders is the managing director of FDM, and founded the company alongside Graeme Bond. Doug Stellman is an investment director at Enterprise Ventures.
Advisers
Equity – DWF, Nicola Frost (Legal).
Company – Ward Hadaway, Melanie Yeomans (Legal).
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