Polymer 3D printing firm Azul 3D has closed a 15 million USD Sequence A funding spherical from present and new traders.
DuPont has been named as a lead investor within the Sequence A transaction, whereas contributions have been made by Beta Lab and GS Futures.
The funding will likely be used to facilitate ’know-how growth in high-value functions’ and will likely be used to scale manufacturing in markets, such because the ‘manufacturing of specialty parts for electronics functions and personalised gadgets, that may make the most of Azul 3D’s Excessive-Space Speedy Printing (HARP) know-how.’ HARP is Azul’s proprietary type of vat polymerisation which converts liquid plastic into stable objects utilizing ultraviolet gentle, whereas using a novel liquid interface that is still molecularly flat throughout steady printing. That is mentioned to enable customers to construct objects with ‘exact thermal management and glorious materials properties.’
It has attracted the funding of a collection of commercial gamers, with DuPont chief amongst them. Azul has been working with DuPont since 2019, with the corporate at the moment creating functions with the LAKE printer it put in final 12 months. DuPont has additionally joined Beta Lab in conveying its confidence within the HARP know-how, with the previous suggesting it will possibly affect manufacturing requirements and the latter noting its potential to remodel manufacturing provide chains.
“We’re very excited concerning the potential of this know-how to create new enterprise alternatives with DuPont,” commented Randal King, Vice President, Expertise, DuPont Electronics & Industrial. “Our funding underscores our robust perception that Azul 3D and its HARP know-how can actually create a brand new paradigm in manufacturing.”
“Azul3D is upending the availability chain and manufacturing course of, creating merchandise that had been by no means earlier than potential,” added Beta Lab CEO Abdulrahman al Olayan. “We invested on this firm as a result of it’s not like something we’ve seen within the 3D printing house. It has the power to flip verticals which have lengthy been stagnant.”
“Azul3D has turn out to be very targeted on high-value, high-volume functions the place we imagine our 3D printing know-how could be a game-changer,” mentioned John Hartner, CEO of Azul 3D since June 2023, having joined the corporate’s board in 2020 and been an early investor. “This new financing, notably with the strong valuation, stands out towards the present funding atmosphere and reveals the joy surrounding this path and its potential for disrupting manufacturing in focused industries.”
Azul 3D has additionally introduced G. Walter “Wally” Loewenbaum, the previous chairman of 3D Techniques Corp and founding father of Rocky Level Ventures, as its latest board member.
“That is essentially the most excited I’ve been about photopolymer 3D printing in a very long time,” Loewenbaum supplied. “With this know-how, we’ve the potential to seize high-value markets and allow modern new merchandise. I’m excited to be part of Azul 3D because it enters this subsequent section.”
Azul 3D beforehand raised $12.5m in an oversubscribed financing spherical again in August 2020 because it ready to commercialise its HARP know-how, which was launched by way of the LAKE printer in September 2021.