Alloy Enterprises, a Burlington, MA-based Digital Aluminum Fab company, raised $26M in Series A funding.
The round, which brought the total amount to $37M, was led by Piva Capital and joined by new investors Unless, Flybridge Capital, MassMutual Catalyst Fund, Robert Downey Jr.’s Footprint Coalition, and existing investors Congruent Ventures and Riot Ventures.
The company intends to use the funds to expand operations and its business reach.
Led by CEO Ali Forsyth, Alloy Enterprises leverages a manufacturing method that streamlines the production of aluminum parts at scale without using aluminum powder. Using a combination of laser cutting and diffusion bonding, the team can produce production volumes through its machines while maintaining the advantages of 3D printing, such as reducing lead times, iterating designs quickly, avoiding expensive tooling, and digitizing inventory.
This summer, the company will start delivering production volume parts. Alloy is actively evaluating and qualifying new customer applications and has the capacity for volume production.
FinSMEs
17/05/2023
SOURCE Alloy Enterprises