Velo3D
Velo3D
Shrouded Impeller printed without supports on the Sapphire System.
VELO3D has raised a further $12 million to complete its fundraising and take the total capital investment into the company up to $150m.
The company has announced in April that a Series D funding round had procured $28m, taking the company up to a total of $138m, but has this week followed that up with an announcement of an additional $12m and new undisclosed backers.
VELO3D is working to expand both its hardware and materials portfolios, which are currently made up of two Sapphire Systems, including a new platform able to print parts up to one metre tall, and aluminium, titanium and nickel-based alloys, including the Aluminium F357 material launched last month. The increased investment follows not just technology launches in the first half of 2020, but also installations by Knust-Godwin and Duncan Machine Products, a partnership with Honeywell Aerospace and several users sharing their experiences of VELO3D’s metal 3D printing technology.
Commenting on the additional $12m investment, a statement from founder and CEO of VELO3D Benny Buller read: “I am proud to announce that we have successfully completed fundraising with the addition of new strategic investors. We are very excited to see this level of interest from multiple industry leaders that use our solution to overcome complex challenges for their businesses and will be announcing more about this in the coming weeks.
“In this unprecedented time of uncertainty, this raise enables us to grow our product portfolio with new machines and alloys and to continue providing world-class support to our customers. This funding will allow us to keep expanding our business and reach profitability.”
