US-based manufacturing technology provider Arevo has closed a $12.5m series B round led by glass manufacturer Asahi Glass.
Sumitomo Corporation of Americas, a subsidiary of diversified conglomerate Sumitomo, also participated in the round, as did investment firm Leslie Ventures and Khosla Ventures, the venture capital firm that led Arevo’s $7m series A round in June 2016.
Arevo has created a system that combines advanced composite materials, specialised software and free-motion robotics to facilitate the 3D manufacturing of strong, lightweight components for industries such as aerospace, transport, electronics, pharmaceuticals, oil and gas.
Masatoshi Ueno, a senior manager at Asahi who is also part of its corporate venturing unit, AGC Ventures, said: “We are thrilled by joining Arevo’s journey as an investor and commercialisation partner. Arevo’s technology will enable us to add new business lines on top of current material solutions.”