3DPrinting Industry reports on another company successfully raising funds with Series B financing. AREVO, which is a company “dedicated to direct digital additive manufacturing of composite materials” has raised $12.5 million in its Series B financing round. Additionally, AREVO has also introduced a brand-new CEO.
This Series B financing round, which was funded by “Japanese global glass manufacturing company Asahi Glass with Sumitomo Corporation of Americas, Leslie Ventures, and Khosla Ventures…will contribute to AREVO’s ongoing R&D efforts.” Two years ago, AREVO completed a Series A funding round, which raised $7 million.
Now, AREVO has announced a new CEO: Jim Miller, who was former VP of WW Operations at Google and VP of Supply Chain at Amazon. Miller is excited to join the AREVO team: “we have the technology and tools to commercialize our software and fabrication process to build high strength parts the manufacturing industry hasn’t been able to conceive and construct before.”
For example, AREVO has already developed “a multi-axis robotic additive manufacturing platform they call ‘Free Motion Printing’ or ‘True 3D printing.’” With this platform, AREVO is able to composite fiber projects with a higher “degree of design flexibility and scale.” AREVO’s most recent project involved a “3D printed frame for a high-performance commuter bike.” The frame is said to be stronger than titanium.
“The vision for this technology is that it will be used to make strong, lightweight parts, capable of replacing heavier metal parts – potentially valuable to the transport, aerospace, and automotive industries.”
Vinod Khosla of Khosla Ventures concludes: “AREVO’s approach is a significant leap forward as it is truly 3D printing rather than stacked 2D printing, which is what most of us are accustomed to. AREVO is the company that can finally move 3D printing beyond novelty applications and into a mainstream manufacturing necessity with its unique nexus of software, robotics, and composite materials.”
Image and Quotes Courtesy of AREVO and 3D Printing Industry