Chicago-based manufacturing company Fast Radius has secured $48 million in Series B funding, according to company database Crunchbase, topping the city’s recent funding headlines. The cash infusion was announced April 2 and led by United Parcel Service (UPS).
According to its Crunchbase profile, "Fast Radius is the leading provider of additive manufacturing solutions – from application discovery, to product design and testing, to production-grade manufacturing and global fulfillment. We bring the future of manufacturing and supply chains to our clients. From entirely new products uniquely enabled by additive manufacturing…to global supply chain solutions leveraging our virtual warehouse, we can help."
The four-year-old startup has raised two previous funding rounds, including a $13 million Series A round in 2017.
The round brings total funding raised by Chicago companies in software over the past month to $57 million, and increase of $49 million from the month before. The local software industry has produced 102 funding rounds over the past year, raking in a total of $884 million in venture funding.
In other local funding news, real estate company Avail announced a $2.5 million Series A funding round on April 9, financed by Cultivation Capital.
According to Crunchbase, "Avail (formerly Rentalutions) is an online platform for DIY landlords and their tenants. Until now, landlords with less than 10 units haven’t had access to online tools designed specifically for them. Avail is an intuitive app that helps you advertise vacant units, request rental applications and credit reports, sign leases, and collect rent — all online."
Founded in 2012, the company has raised three previous rounds, including a $2 million seed round in 2017.
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