Nov 22, 2017 | By Tess
Divergent 3D, the company responsible for developing the 3D printed Blade Supercar, has announced the launch of a Series B financing round through which it is seeking to raise up to $107 million. The funding round is being led by O Luxe Holdings Limited, a Hong Kong investment company backed by business magnate Li Ka-shing.
Since its founding in 2014, Divergent 3D has become a beacon of sorts in the combined automotive and 3D printing fields. Not only did the company introduce the first 3D printed supercar, but it has also developed an end-to-end software-hardware solution for building lightweight, metal vehicle structures using additive manufacturing.
The system, called the Divergent Production System, has already attracted a lot of interest from investors and partners. Earlier this year, for instance, Divergent announced an investment of $23 million to commercialize its technology, as well as a strategic partnership with 3D printing company SLM Solutions.
3D printed chassis
Now, through its Series B financing round, the company has attracted even more investors and increased its revenue growth significantly. The investment round, which is expected to end on or before December 15, 2017, has already raised $65+million with a $40 million additional investor option. The aggregate funding, with option, is up to $107 million.
In addition to Li Ka-shing’s O Luxe Holdings Limited—a Hong Kong-based investment holding company that supports companies that aim to drive electric vehicle technology forward—the investment group also includes existing investors Horizons Ventures (Li Ka-shing's private investment arm) and Altran Technologies, as well as new investor Shanghai Alliance Investment Limited.
Hong Kong business magnate Li Ka-shing
“With the ability to quickly respond to market demands, the Divergent system allows automakers and technology companies to innovate at a much faster rate—scaling up volume production at only a fraction of the cost while also alleviating environmental damage,” commented Kevin Czinger, founder and CEO of Divergent 3D.
“As a leading investment holding company dedicated to advancing sustainable manufacturing and transportation, O Luxe aligns with Divergent’s mission and fully understands the importance of disruptive technologies to the automotive industry. We are thrilled to partner with a company that supports our growth and vision.”
Money from the Series B investment round will go towards funding the commercialization of Divergent’s innovative metal 3D printing platform as well as towards expanding the company’s reach on the international market. Through bringing on O Luxe Holdings and Shanghai Alliance Investment, for instance, Divergent 3D plans to bring its technology to the rapidly growing electric vehicle market in China.
The Divergent Production System is a process that can enable auto manufacturers to mass produce more environmentally friendly vehicles at a much lower cost than current manufacturing methods allow. Further, the 3D printing platform can be customized to a particular client to meet its own manufacturing standards and vehicle designs.
3D printed 'Blade' Supercar
The potential of the system, as Frost & Sullivan recognized last year, is huge. In short, Divergent 3D has developed and proposed a system to mass manufacture cars that is a) better for the environment and b) cheaper than current processes which produce significant toxic emissions. The 3D printed cars produced using the system are reportedly also safer, stronger, and more eco-friendly than most mass produced vehicles on the market.
The company hopes its continued support from investors (both existing and new) as well as its strategic partnerships in the automotive and 3D printing industries will enable it to push forward with its innovative technology and accelerate its adoption across the car manufacturing industry.
Posted in 3D Printer Company
Maybe you also like:
- 5 3D printing stars make Forbes' 30 Under 30 Manufacturing 2018 List
- 3D Printing News Roundup: Stratasys, Arkema, EOS, Prodways, A.Schulman, Identify 3D, Dynamical Tools
- News Roundup: CARMAT, AddUp, Sojitz, Kowai, PyroGenesis, 3D printing scam, TWI, Autodesk Netfabb
- French 3D printing initiative 3D Partners invests half a million euro in new headquarters
- Open-source 3D printed kit transforms $500 wheelchair into $2500 electronic wheelchair
- 3D printing presents cyber security risks for aircraft manufacturers, says Atlantic Council report
- Fast-growing 3D printer company XYZprinting invests in Nexa3D and partners with DWS, Sicnova
- 3D Printing News Roundup: Carbon's biocompatible SIL 30 resin, NuVasive, Materialise, SLM, Authentise
- 3D Printing News Roundup: Aldi's £300 Baclo 3D printer, Nano Dimension, LPW, Apworks, SelfCAD, Victrex
- SPEE3D announces global launch of LightSPEE3D metal 3D printer with ‘supersonic 3D deposition’
3Ders.org provides the latest news about 3D printing technology and 3D printers. We are now seven years old and have around 1.5 million unique visitors per month.
