Wayland
Wayland Calibur3
Metal additive manufacturing (AM) company Wayland Additive has announced it has successfully secured 4.2 million GBP in funding to expand its operations.
The UK-based electron beam 3D printing specialist says the funding will be used to enable the growth of its global customer base and increase in-house production for its Calibur3 metal AM systems, launched in 2021.
Will Richardson, CEO of Wayland, said: “Wayland has grown exponentially over the past year, with this latest raise representing a major milestone for our business as we continue to seek additional funding over the coming year. After a successful 2023, we’re setting our sights on further developing our in-house production capacity and increasing our global customer base to enable more sectors to benefit from our cutting-edge election beam printing technology.”
The funding round was led by Parkwalk Advisors, which has supported the company since 2021, and included support from long-term backer Longwell Ventures. This current funding round will remain open, with a target of 10 million GBP. It follows a 4.6 million GBP oversubscribed Series A funding Round in April 2023 to support the delivery of more machines and materials to its customers.
Martin Glen, Investment Director of Parkwalk Advisors, said: “We are proud to be playing a leading role in growing Wayland Additive as it continues its journey to scale up its operations. Wayland is a prime example of a university spinout driving real positive change by deploying unique, cutting-edge technology to a range of sectors and challenges. We're excited to see the company grow further.”
In February 2023, Wayland announced a production ramp up of its flagship 3D printer, having already shipped machines to the likes of EWI and the Royal Air Force (RAF) the previous year. At the time, the company confirmed that another six machines were in production with components being procured to manufacture another ten by the end of last year.
