Arevo, a US-based 3D printing technology provider backed by glass manufacturer Asahi Glass and diversified conglomerate Sumitomo, has completed a $25m series B round.
The round was co-led by Defy Partners and GGV Capital and also featured fellow venture capital firms Khosla Ventures and Alabaster. It brought the company’s overall funding to $60m, it said.
Founded in 2013, Arevo provides a combination of software and materials that facilitate the design and fabrication of strong and lightweight carbon fibre composite parts that can be manufactured at scale.
Asahi Glass led a $12.5m round for the company in May 2018 also described as a series B, investing alongside Sumitomo subsidiary Sumitomo Corporation of Americas. It came after Khosla Ventures had led its $7m series A round two years earlier.
Hemant Bheda, co-founder and chairman of Arevo, said: “We are excited to have Defy and GGVC on board to bring not only capital but a vast amount of strategic experience. The strong interest in the company despite tough market conditions really reaffirm our vision.”