Global investors include DuPont, Beta Lab, and GS Futures.
October 10, 2023 11:00 AM Eastern Daylight Time
CHICAGO–(BUSINESS WIRE)–Azul 3D, a leading-edge 3D printing startup, has closed a Series A transaction of $15 million from existing and new investors.
“With this technology, we have the potential to capture high-value markets and enable innovative new products. I’m excited to be a part of Azul 3D as it enters this next phase.”Tweet this
Investment in the company comes from around the globe, including from DuPont, a lead investor in the Series A transaction. Other investors from the EMEA and Asia regions include Beta Lab and GS Futures.
DuPont has worked with Azul 3D since 2019 and is working on the development of applications that take advantage of Azul 3D’s proprietary High-Area Rapid Printing (HARP™) technology. “We are very excited about the potential of this technology to create new business opportunities with DuPont,” said Randal King, Vice President, Technology, DuPont Electronics & Industrial. “Our investment underscores our strong belief that Azul 3D and its HARP technology can truly create a new paradigm in manufacturing.”
“Azul3D is upending the supply chain and manufacturing process, creating products that were never before possible,” said Beta Lab CEO Abdulrahman al Olayan. “We invested in this company because it is unlike anything we have seen in the 3D printing space. It has the ability to flip verticals that have long been stagnant.”
Supporting Azul 3D through the round was John Hartner, who has served as CEO since June 2023. Hartner is the former CEO of 3D printing company ExOne and has led technology companies around the world for 30 years in the automation, electronics, cleantech and digital printing industries. He has been an early investor and member of the board of directors of Azul 3D since 2020.
“Azul3D has become very focused on high-value, high-volume applications where we believe our 3D printing technology can be a game-changer,” Hartner said. “This new financing, particularly with the robust valuation, stands out against the current funding environment and shows the excitement surrounding this path and its potential for disrupting manufacturing in targeted industries.”
Azul 3D also welcomed its newest board member G. Walter “Wally” Loewenbaum, the former chairman of 3D Systems Corp and founder of Rocky Point Ventures. “This is the most excited I have been about photopolymer 3D printing in a long time,” Loewenbaum said. “With this technology, we have the potential to capture high-value markets and enable innovative new products. I’m excited to be a part of Azul 3D as it enters this next phase.”
The funding facilitates successful technology development in high-value applications and will be used to scale production in markets, such as manufacturing of specialty components for electronics applications and personalized devices, that can take advantage of Azul 3D’s HARP™ technology. HARP, a proprietary form of vat polymerization that converts liquid plastic into solid objects using ultraviolet light, employs a unique liquid interface that remains molecularly flat during continuous printing and allows users to build objects with precise thermal control and excellent material properties.
ABOUT AZUL 3D™
Azul 3D™ is a leading-edge 3D printing company enabling the next generation of additively manufactured products. Initially invented and developed at Northwestern University, Azul 3D’s HARP™ technology harnesses the power of a liquid interface and material innovation to develop novel solutions for manufacturing challenges. Azul 3D is enabling manufacturers to create new business opportunities, digitize traditional manufacturing methods and improve sustainability. In combination with its proprietary industrial-grade materials, it offers the opportunity for volume production of components and just-in-time mass production of highly customized products. More information and job opportunities can be found at azul3d.com.
Emily Ayshford at [email protected]
Source : https://www.businesswire.com/news/home/20231010246552/en/Azul-3D-Closes-15-Million-in-Series-A-Funding