Wayland Additive raises £3 million in Series A funding round
Wayland Additive Limited, Huddersfield, UK, has raised £3 million in its Series A funding round, led by Longwall Ventures with the Angel CoFund (ACF), among other investors. The Electron Beam Additive Manufacturing company is reportedly developing EB-based systems capable of building parts faster and with greater precision than laser-based technologies, and is thought to be targeting end-users in industries such as aerospace and medical.
Wayland Additive’s technology is reported to be built on highly sophisticated developments in scanning electron microscopy (SEM) and electron beam lithography, and is expected to offer very high levels of productivity, material versatility, process monitoring and control. The company has acquired IP from Reliance Precision Limited, Huddersfield, which has developed AM technologies over the past three years.
The funds raised in this Series A funding round are expected to enable Wayland Additive to develop its advances in metal Additive Manufacturing from an advanced prototype to a launch product. The company plans to begin machine shipments in 2021.
David Denny, Partner at Longwall Ventures, commented, “We are delighted to be backing a strong team with technology that integrates process control with 3D printing – the critical piece that enables EBM to become a statistically capable manufacturing method.”
