Elevate Ventures Announces Exit in South Bend – Elkhart Region
Plymouth, IN (Nov. 25, 2019) – Elevate Ventures announces its first successful exit in the South Bend – Elkhart Region with the acquisition of Atlas 3D by Siemens, a global leader and pioneer in industrial manufacturing. The Plymouth-based will join Siemens Digital Industries Software, with plans to make the Atlas 3D solution available through its online Additive Manufacturing Network.
Atlas 3D develops software that generates computer-based optimization for metal 3D printing. Its main product, Sunata™, is a cloud-based software that automatically simulates the best orientation for metal parts and generates necessary support structures to mitigate thermal distortion. The software is designed to allow users to produce successful prints the first time, saving time and money.
The acquisition moved from initial investment to exit in 22 months. Any financial return generated will be re-invested in other startups.
“Atlas 3D progressed quickly and took advantage of the wide variety of valuable resources available to high potential ventures in the South Bend – Elkhart Region,” said Gavin Ferlic, Elevate Ventures Entrepreneur-in-Residence. “The company’s exit is a testament to its hard work and dedication through the process, and it is an outstanding win for our region and state.”
Founded in 2017, Atlas 3D spun-out of ITAMCO in collaboration with the University of Notre Dame and other investors. In that same year, Atlas 3D was awarded a High Potential Startup Grant from Elevate Ventures and the regional partnership, Startup South Bend – Elkhart. Atlas received investment from Elevate’s direct investment fund shortly thereafter.
Atlas 3D is Elevate Ventures’ sixth positive exit in 2019.
About Startup South Bend – Elkhart
Startup South Bend – Elkhart was formed by the South Bend – Elkhart Regional Partnership (SBERP) with a mission to promote and foster the creation of an entrepreneurial ecosystem in the South Bend – Elkhart Region by stimulating the entrepreneurial spirit and culture in our citizens, identifying and nurturing new business startups and supporting the growth of existing high potential businesses.
About Elevate Ventures
Elevate Ventures is a private venture development organization that nurtures and develops emerging and existing high-growth businesses into high-performing, Indiana-based companies. Elevate Ventures accomplishes this by providing access to capital, rigorous business analysis and robust advisory services that connect companies with the right mix of resources businesses need to succeed long term.