Axial3D, a UK-based developer of additive manufacturing solutions for the healthcare industry, raised USD 15 million in a funding round led by a strategic investment of USD 10 million from Stratasys, a provider of end-to-end additive manufacturing (AM) solutions, including the sale of printer systems and on-demand manufacturing services. 

Axial3D has not disclosed how the funds will be used, however, the two companies plan to provide a joint offering to improve the accessibility of patient-specific 3D printing solutions for hospitals and medical device manufacturers. 

Analyst QuickTake: Stratasys appears to be taking an inorganic approach to growth to expand its presence in different verticals. This news comes just a week after Stratasys acquired software company Riven to offer production-scale additive manufacturing. Previously, Stratasys also merged its subsidiary MakerBot with 3D printing solutions provider Ultimaker forming a new entity targeting desktop 3D printing.