Fortius Metals/AM Ventures
Fortius Metals has announced that it has closed a priced seed financing round worth 2 million USD with AM Ventures.
The 2 million USD round will be used to scale manufacturing capacity, grow the company and accelerate its go-to-market strategy.
Fortius Metals is a large format additive manufacturing company that specialises in advanced materials to help customers develop solutions that it says were previously impossible with robotic 3D printing.
The company’s patented technology will enable welding and 3D wire fabrication using high performance metal alloys to meet the demands of aerospace customers and robotic welding fabricators.
“We are looking forward to supplying customers who are already requesting our proprietary 6061 aluminium welding wire that solves traditional ‘hot cracking’ problems,” said Jeff Lints, Fortius CEO. “We are proud to be a Colorado company along with many of our space and aircraft customers.”
Read more: AM Ventures closes venture capital fund with focus on industrial 3D printing
According to Fortius, its welds are often twice the strength of incumbent commercial options for welding and 3D printing, which it says will help customers increase design performance, improve product quality and reduce weight.
“We strongly believe that large scale additive manufacturing has massive potential. But until we spoke to Fortius we had not seen an investment opportunity that could accelerate adoption,” said Phillip Schultheiss, Senior Associate at AM Ventures. “Jeffrey and his talented team are developing not only a way of making high strength metals readily available for large scale printing and traditional welding but also increasing their mechanical properties, an investment was just logical.”
According to AM Ventures, Fortius Metals’ position as a potential supplier to ‘technologically cutting-edge’ aerospace and defence customers inspired it to navigate complex CFIUS clearance rules for investment in order to open the door to a long-term partnership with Fortius.
