Foundation Alloy, a Cambridge, MA-based vertically integrated metal part production platform, raised $10m in funding.
The investment was co-led by The Engine, and Material Impact with participation from Safar Partners. The Engine’s Milo Werner and Material Impact’s Carmichael Roberts will join Foundation Alloy’s Board of Directors.
The funding will accelerate the company’s plans to commercialize its integrated approach to part production, enabling flexible production of high performance parts while reducing manufacturing time, waste and energy. Specifically, the capital will go toward a pilot facility to validate and demonstrate the company’s technology and value to customers.
Founded in February 2022 by CEO Jake Guglin, Head of Research & Development Jasper Lienhard, and Professors Chris Schuh (Massachusetts Institute of Technology) and Tim Rupert (University of California Irvine), Foundation Alloy integrates proprietary alloy design technology from MIT and UC Irvine, advanced manufacturing and automation to recast the metal parts manufacturing industry. Its core IP can be tailored to specific applications across critical industries like aerospace and defense, automotive, energy and industrial manufacturing. These materials are also engineered to be easily fabricated via advanced manufacturing, solving many of the cost, speed and quality issues currently limiting adoption of technologies such as 3D printing.