Divergent 3D, a US-based company applying 3D printing technology to the automotive industry, completed a $23m series A round featuring engineering services provider Altran yesterday.
Horizons Ventures, a venture capital fund formed as the private investment arm of businessman, Li Ka-shing led the round.
Divergent 3D has built a 3D printing platform that allows carmakers to design and produce specific, complex components that can be manufactured in low or high volume.
The system means vehicle prototypes can be assembled more quickly, while parts can also be manufactured for cars that would potentially be lighter and more fuel-efficient than traditional models in addition to being cheaper to produce.
France-based Altran, which supplies engineering services to the automotive and aerospace industries, made its contribution to the round when it signed a strategic development partnership with Divergent 3D in October 2016.
Divergent 3D had signed a joint development agreement with automotive manufacturer PSA Group the month before, setting the framework for PSA to construct vehicle structures using the startup’s manufacturing platform.
Kevin Czinger, Divergent 3D’s chief executive, said: “This investment enables us to continue our strong momentum by providing resources and relationships to bring our automotive manufacturing technology to as many automakers as possible, especially in China.
“The time has come for a new model of decentralised car production that fosters pioneering car designs and lowers costs while alleviating environmental damage.”
– Photo of Blade, Divergent 3D’s 3D printed supercar, courtesy of Divergent Technologies, Inc.