US company that produces laser 3D printers for metals, VulcanForms, announced that it would raise $ 355 million in funding, increasing its valuation to over $ 1 billion. The company also unveiled its first two digital manufacturing plants, one of which is powered by a fleet of patented 100 kW class LPBF (Laser Powder Bed Fusion) 3D printing systems with a total output of two megawatts.
VulcanForms was founded in 2013 by Martin Feldmann and MIT Professor John Hart to improve the throughput and quality of the LPBF additive manufacturing process. Following its first patent application, the company built its first 3D printing system to validate its groundbreaking industrial 3D printing technology in 2017.
In 2019, the first production machine was developed that is capable of sintering powdered metal alloys with a laser of up to 100 kW, up to 250 times more than other commercial systems on the market. The company’s patented simulation tools and machine algorithms monitor the entire production process to maximize efficiency and ensure consistent quality on each machine.
In the past few years, the company has begun serving leading defense, aerospace, medical and semiconductor companies with precisely engineered components and assemblies. VulcanForms provides over a dozen systems to the US Department of Defense, including the development of the F35 Joint Strike Fighter and the Patriot Air Defense System. The company has also built thousands of components for the semiconductor industry.
VulcanForms has received another capital injection totaling $ 355 million, bringing its valuation to over $ 1 billion. The financing round was attended by: Eclipse Ventures, State Venture Partners, Fontinalis Partners, D1 Capital Partners, Standard Investments, Atlas Innovate, Boston Seed Capital, Industry Ventures and Simkins Family.
Additional funding will support the company in providing new and existing customers with an integrated approach to manufacturing additive LPBF to enable them to innovate on a large scale faster, without making large capital investments of their own.
Source: www.businesswire.com