{"id":3854,"date":"2020-05-01T07:04:01","date_gmt":"2020-05-01T07:04:01","guid":{"rendered":"http:\/\/maadhouze.com\/?p=3854"},"modified":"2020-05-01T07:04:01","modified_gmt":"2020-05-01T07:04:01","slug":"velo3d-raises-28-million-in-series-d-funding-round-paving-the-way-for-product-expansion","status":"publish","type":"post","link":"https:\/\/theblogonline.com\/?p=3854","title":{"rendered":"VELO3D Raises $28 Million In Series D Funding Round, Paving The Way For Product Expansion"},"content":{"rendered":"

Digital manufacturing innovator <\/span><\/span>VELO3D<\/span><\/span><\/a> announced today that it has raised $28 million in a Series D funding round. New investors <\/span><\/span>Piva<\/span><\/span><\/a> and TNSC joined the round, along with existing investors <\/span><\/span>Bessemer Venture Partners<\/span><\/span>, Playground, and Khosla Ventures. This brings VELO3D\u2019s total funding to $138 million.<\/span><\/span><\/p>\n

\u201cWith the VELO3D integrated solution of Flow\u2122 advanced pre-print software, Sapphire\u2122 printer, and Assure\u2122 quality management software, companies can finally break free of the constraints of existing metal additive manufacturing processes,\u201d states Benny Buller, Founder and CEO of VELO3D. \u201cCustomers 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\u2019t possible before with 3D metal printing.\u201d <\/span><\/span><\/a><\/p>\n

VELO3D plans to use the new capital to expand its product portfolio to include more machine options, compatible alloys, and enhanced software and hardware capabilities. The company anticipates that the injection of fresh capital will help them reach sustainable profitability by mid-2022. <\/span><\/span><\/p>\n

Piva<\/span><\/span> is the largest investor in the new round and has a strong heritage in industrial markets, as they are backed by Malaysia-based PETRONAS, one of the world\u2019s largest energy companies. <\/span><\/span><\/p>\n

\u201cVELO3D is revolutionizing the way we think about advanced manufacturing today,\u201d said Ricardo Angel, CEO and Managing Partner at <\/span><\/span>Piva<\/span><\/span>. \u201cWe 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. 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.\u201d <\/span><\/span><\/p>\n

Founded in 2015, VELO3D operated in stealth mode for the first 4 years, <\/span><\/span>then<\/span><\/span> announced availability of the Sapphire printer in 2019. In that first year of commercialization, VELO3D generated nearly $30 million in sales and gained seven new customers, many of which have placed repeat orders. VELO3D now has a global customer footprint that includes Japan, Korea, and Australia. <\/span><\/span><\/p>\n

View source version on businesswire.com: <\/span><\/span>https:\/\/www.businesswire.com\/news\/home\/20200428005135\/en\/<\/span><\/span><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Digital manufacturing innovator VELO3D announced today that it 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. This brings VELO3D\u2019s total funding to $138 million. \u201cWith the VELO3D integrated solution of Flow\u2122 advanced pre-print software, […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2456],"tags":[2564],"class_list":["post-3854","post","type-post","status-publish","format-standard","hentry","category-business","tag-velo3d"],"_links":{"self":[{"href":"https:\/\/theblogonline.com\/index.php?rest_route=\/wp\/v2\/posts\/3854"}],"collection":[{"href":"https:\/\/theblogonline.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/theblogonline.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/theblogonline.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/theblogonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=3854"}],"version-history":[{"count":1,"href":"https:\/\/theblogonline.com\/index.php?rest_route=\/wp\/v2\/posts\/3854\/revisions"}],"predecessor-version":[{"id":3855,"href":"https:\/\/theblogonline.com\/index.php?rest_route=\/wp\/v2\/posts\/3854\/revisions\/3855"}],"wp:attachment":[{"href":"https:\/\/theblogonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=3854"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/theblogonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=3854"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/theblogonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=3854"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}