Another large investment in the 3D printing industry. VELO3D, an American manufacturer of a 3D printing system for large-format metal parts, has raised $ 28 million in D series financing. Adding all sources of financing, the company was supported by almost 140 million dollars!
The company has been operating since 2018, and this month it presented the new generation of the Sapphire device – a system that allows additive production of metal elements up to one meter high. The device has a work table with a diameter of 315 mm, and for sintering the material uses two 1kW lasers.
The creators emphasize that the device with such a large working area is dedicated to the industrial industry – especially printouts created for the needs of the oil and aviation industry. They add that they are aware that in the industries to which they provide their solution there is no room for compromise, which is why their solution provides high quality solutions.
Collected financing will be allocated to expand the portfolio of available devices and expand the capabilities of existing systems with further functions. Their goal is to simultaneously develop a line of compatible consumables. According to the assumed strategy, the company will be able to achieve sustainable profitability by mid-2022.
Benny Buller, founder and CEO of VELO3D, is convinced that their solutions will allow for achieving high production efficiency for the needs of companies from the aviation, automotive or oil industries. Their device, combined with proprietary quality management software, Assure, is to allow the production of additive components with a performance that was unattainable for other devices.
Ricardo Angel, CEO of the company that decided to invest, admits that he is impressed by breakthrough technology and is convinced that he will have a significant impact on the effective design and production of complex components for the needs of the aviation and automotive industries. He emphasizes that in the current reality of production, distributed production is not gaining popularity – the possibility of local production of elements will minimize delays resulting, among others, from from disturbances in standard supply chains.
Currently, the most important customer of VELO3D is Space X – the space industry company founded by Elon Musk. The company uses 3D printing technologies to test and create metal components for space vehicles that cannot be made with classic technologies.