Magnus Metal, a Tel Aviv, Israel-based technology company which specializes in industrial, high volume digital casting for metal alloys, raised $74M in Series B funding.
The round was led by Entrée Capital and Target Global with participation from Caterpillar Ventures, Tal Ventures, Deep Insight Ventures, Awz Ventures, Lumir Ventures, Discount Capital, Lip Ventures, Cresson Management, Next Gear Fund and Essentia Venture Capital.
The company intends to use the funds to further develop its casting technologies while expanding its operations locally and globally to support its customers.
Led by CEO Boaz Vinogradov, Magnus Metal is focused on the industrialization of novel machine, components, materials and processes, developing a range of products from chassis and structural parts for vehicles, agriculture equipment, construction equipment, trucks and trains, to industrial, robotics or tooling machinery.
The company has developed the Digital Casting TM which blends the benefits taken from both Additive Manufacturing (AM) and traditional casting, while avoiding the typical associated deficiencies – this enables a streamlined supply-chain, digital inventory and remote manufacturing hubs.
Magnus Metal is working with Fortune 100 companies and OEM manufacturers.
FinSMEs
18/04/2024