Uniformity Labs
Uniformity Labs (UL) has completed a $38.35 million Series B financing round with contributions coming from new and existing investors.
The California-based company, which develops metal 3D printing material feedstock, procured cash from the likes of founding investor IP Group and new investor, Orion Resource Partners, a leading investor in mining and metals processing.
Uniformity Labs says the funds will be harnessed to drive the expansion of its production capability and the development of additional specialised materials, but it has also intends to grow out its leadership team, particularly in the areas of sales and marketing, and construct a new plant.
The company was founded in 2014 and is bringing to market advanced metal materials for powder bed fusion and binder jetting platforms that boast reduced porosity and ‘100X+ more contact points between particles’ than other powders on the market. UL believes such material enables more reliable printing due to less warpage and residual stress across processes, allowing users to achieve more reliable results with additive manufacturing.
This offering to market has led Orion to make its first investment into the additive manufacturing and metal atomisation industries, with UL bringing in nearly $40m in investment to facilitate further growth.
“This marks a significant milestone in our next phase of growth as we scale our game-changing metal feedstock and print applications businesses to greatly improve the 3D printing value proposition for major manufacturers,” commented Uniformity Labs founder and CEO Adam Hopkins. “What’s important about this round is the level of commitment from new financial and strategic investors, which stands as an important endorsement of our technology and business model.”
“As its founding investor, IP Group is excited to see Uniformity Labs poised to disrupt the AM market,” added Michael Burychka, CEO of IP Group Inc. “Adam Hopkins and his team have done a tremendous job developing the core technology created in Professor Sal Torquato’s labs at Princeton University to unlock the potential of powder-based manufacturing. UL is an excellent example of our focus on supporting the commercial development of innovative hard science from premier research institutions like Princeton.”
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