Rostock-founded 3D printer maker Aim3D has secured money from investors including Brose ahead of the launch of its first product in spring 2019.

Aim3D, a Germany-based additive manufacturing spinout from University of Rostock, has raised €1.4m ($1.6m) in a round backed by automotive parts producer Brose and public-private partnership High-Tech Gründerfonds.

The round also included government-backed investment firm Mittelständische Beteiligungsgesellschaft.

Founded in 2017, Aim3D has designed a 3D printing machine for manufacturing metals and plastics enabling parts for products such as cars to be created quicker, shortening the development process and reducing costs for manufacturers.

Aim3D’s printers can also be used for purposes including specialist machinery, metal injection moulding, tools manufacturing and aerospace technology. The company plans to launch its first 3D printer, dubbed Exam 255, in spring 2019.

Gregor Haidl, investment manager at HTGF, said: “The unique selling points of the patented technology offer clear advantages, both for metal injection moulding and for automotive production.

“This was made clear by a high level of customer interest and strong partnerships.”