US-based metal manufacturing technology developer Digital Alloys has raised $12.9m in series B financing from investors including industrial equipment maker Lincoln Electric and aerospace manufacturer Boeing.
The round was led by G20 Ventures and included fellow venture capital firm Khosla Ventures, which had led Digital Alloys’ $5m series A round in March 2017. Boeing invested through its corporate VC unit, Boeing HorizonX Ventures.
Digital Alloys has created a printing system known as Joule Printing that facilitates the rapid 3D printing of hard metal additives by using wire feedstock and high deposition rates. It is initially being used in the aerospace, automotive and consumer product industries.
Brian Schettler, Boeing HorizonX Ventures’ managing director, said: “Our investment in Digital Alloys will further Boeing’s ability to produce a higher volume of metal structural aerospace parts faster than ever before.
“Through emerging additive manufacturing technologies, we aim to accelerate the design and manufacture of 3D-printed parts to transform production systems and products.”