Printsyst was one of the companies identified during the selection process and was accepted from over 175 candidates worldwide. The Israeli company will join the accelerator program batch 10 in Prague, the Czech Republic.
StartupYard CEO Cedric Maloux said that, “thanks to Printsyst, I have discovered that the 3D printing process was very far from being user friendly. I’m very excited by the solution Printsyst is bringing to the market. If 3D printing wants to reach mass adoption, the AI-based solution from Printsyst is the way forward and this is why we have decided to invest.
“The Czech Republic is leading in manufacturing capabilities and has already proved itself as an early adopter of 3D printing. It is in the perfect region to penetrate and disrupt the European market. We are thrilled to collaborate with the StartupYard team and its mentors. It’s an important milestone for us. The program will promote our business development in Europe much faster. Thanks to the StartupYard network we have made strong progress in our European penetration plan”, said Printsyst CEO, Itamar Yona.
Established in 2011, StartupYard it is the oldest private accelerator in the CEE region. So far StartupYard has invested in and accelerated 10 cohorts of 72 startups. Its aim is to help startups grow and gain further investment, while connecting them with partners and mentors to help them launch on the global stage. 28 alumni have raised further investment, for a total of 17 million euros. Six companies have been acquired. StartupYard is backed by Credo Ventures, Rockaway Capital, and a group of angel investors including Michal Illich, Josef Matejka, Michal Kratochvil, and Philip Staehelin.
Printsyst is targeting companies that use 3D printing but have lack in internal expertise required for operating it. PrintSYSt is an AI-powered expert system that provides a complete automated 3D printing workflow. Unlike standard existing solutions, Printsyst requires no expertise, allowing users to focus on design instead of production.
The company’s patented algorithm facilitates the identification of parts functionality and significantly improves printing success rate. The company has already collaborats with academic and commercial 3D printing service providers in Europe, Asia, Australia and United States.