Advanced metallic components developer Alloyed has completed a £37m Series B funding round to expand its manufacturing facilities in the UK and US.
It will also be used to accelerate the development of its digital platforms for the design and processing of improved alloys and alloy components.
Led by Japanese investors SPARX and the Development Bank of Japan, with participation from Aviva Investors and German-based Future Industry Ventures (a Redstone and SBI fund), the round adds to existing investors Oxford Science Enterprises, JX Advanced Metals, and Anglo American plc.
The firm spun out of Oxford University seven years ago and now designs and manufactures the world’s most advanced metallic alloys and is a leader in the emerging automated design and manufacturing sector.
Its current customers include Boeing, Microsoft, Anglo American and BMW, with its applications spanning a wide range of industries.
The company, whose UK base is in Abingdon, is focused on automated design and manufacturing through additive manufacturing, or industrial-scale ‘3D printing’, which combines many functions into one metal part.
“After 5,000 years, metal remains the material of choice for the toughest jobs, and our mission is to harness our digital platforms to make metal components lighter, stronger, and more precise, all while reducing costs and maximising sustainability,” said Michael Holmes, CEO of Alloyed.
“We’re excited to welcome this exceptional group of new investors, enabling us to accelerate investment in our digital tools and expand our certified production facilities both in the UK and the US.
“Automated design and manufacturing is an industry where the UK, with our expertise in materials science and world class engineering capability, has the potential to lead on the global stage and Alloyed is at the forefront of this transformation.”
Takaki Demichi, director and head of investment for Next-Generation Growth Division at SPARX Asset Management, added: “Additive manufacture has great promise for the energy transition and future products across a range of industries, but has been held back by a range of engineering challenges which we believe are directly addressed by Alloyed’s materials, processing, design, and production technologies and its highly data-driven approach.”