Velo3D raises $28 million in Series D funding round

April 28, 2020

Velo3D, Campbell, California, USA, has raised $28 million in a Series D funding round. New investors Piva and TNSC joined the round, along with existing investors Bessemer Venture Partners, Playground, and Khosla Ventures, bringing Velo3D’s total funding to $138 million.

The company states that it plans to use the new capital to expand its product portfolio to include more machine options, compatible alloys, and enhanced software and hardware capabilities. It anticipates that the injection of fresh capital will help it to reach sustainable profitability by mid-2022.

Founded in 2015, Velo3 announced availability of its Sapphire AM machine in 2019. In its first year of commercialisation, the company reported nearly $30 million in sales and gained seven new customers, many of which have placed repeat orders. 

Piva, which is said to be the largest investor in this new round of funding, has a strong heritage in industrial markets, as it is  backed by Malaysia-based PETRONAS, one of the world’s largest energy companies.

“With the Velo3D integrated solution of Flow™ advanced pre-print software, Sapphire™ printer, and Assure™ quality management software, companies can finally break free of the constraints of existing metal Additive Manufacturing processes,” stated Benny Buller, Founder and CEO of Velo3D. “Customers in industries such as aerospace, oil & gas, and power generation are now able to achieve part quality for their mission-critical applications with performance levels that weren’t possible before with 3D metal printing.”

Ricardo Angel, CEO and Managing Partner at Piva, commented, “Velo3D is revolutionising the way we think about advanced manufacturing today. We have been impressed by Benny, the team and their breakthrough technology that will have a significant impact on the efficient design and manufacturing of more complex components, previously unattainable, with clear commercial traction already in the aerospace and aviation markets.”

Angel added, “Velo3D will lead a new wave of more resilient, distributed manufacturing capabilities for its most critical components, which the world will need to ensure local product availability and timeliness, while mitigating potential future worldwide disruptions.”

www.velo3d.com

www.piva.vc

In the latest issue of Metal AM magazine

Download PDF
 

Extensive AM industry news coverage, as well as the following exclusive deep-dive articles:

  • LEAP 71: Why engineering must move beyond CAD to realise the promise of AI and Additive Manufacturing
  • Additive Manufacturing and European defence: a critical opportunity as the US and China accelerate ahead
  • A market analyst’s view: Europe’s opportunity as defence AM surges in the US and China
  • From Fixed Processes to flight parts: How REM’s advanced surface finishing supports NASA JPL’s AM innovations
  • The future of large metal parts: WAAMathon #2 showcases developments in Wire Arc Directed Energy Deposition
  • Wire Electron Beam Directed Energy Deposition (DED): Advancing productivity and sustainability in metal AM
  • Building trust in AM: How Qualified AM GmbH is enabling regulated production at scale

TRUSTED CONTENT. TARGETED AUDIENCE

Advertise with Metal AM and access a global base of 50,000+ AM professionals.

Contact Jon Craxford: [email protected]

  • AM machines
  • Process monitoring & calibration
  • Heat treatment & sintering
  • HIP systems & services
  • Pre- & post-processing technology
  • Powders, powder production and analysis
  • Part manufacturers
  • Consulting, training & market data

Don’t miss a thing – register for our newsletter

Don't miss any new issue of Metal AM magazine, and get the latest industry news. Sign up to our twice weekly newsletter.

Register now

Join 40,000+ other AM professionals – follow us online

About Metal Additive Manufacturing magazine

Metal AM magazine, published quarterly in digital and print formats, is read by a rapidly expanding international audience.

Our audience includes component manufacturers, end-users, materials and equipment suppliers, analysts, researchers and more.

In addition to providing extensive industry news coverage, Metal AM magazine is known for exclusive, in-depth articles and technical reports.

Our focus is the entire metal AM process from design to application.

Each issue is available as an easy-to-navigate digital edition and a high-quality print publication.

Discover our magazine archive…

The free to access Metal Additive Manufacturing magazine archive offers unparalleled insight into the world of metal Additive Manufacturing from a commercial and technological perspective through:

  • Reports on visits to leading metal AM part manufacturers and industry suppliers
  • Articles on technology and application trends
  • Information on materials developments
  • Reviews of key technical presentations from the international conference circuit
  • International industry news

All past issues are available to download as free PDFs or view in your browser.

Browse the archive

Share via
Copy link
Powered by Social Snap