202320 Nov

Modernizing Manufacturing: Divergent Raises $230M to Aid Growth

Summary

With a recent $230 million series D funding round that closed earlier this month, the company is growing its operations and scaling up research into new manufacturing material and factory locations. This is built on three pillars of technology, all of which were developed in-house: the first is an AI-powered generative design software that creates blueprints for parts and systems, which are then produced by its 3D printing machine hardware. The 3D printers can produce complex structures while minimizing the number of individual parts needed to create a product, increasing manufacturing efficiency and opening up the options for what materials can be used. Instead, now you have a flexible system that is anti-fragile … and can grow with actual customer demands and product requirements.” According to Crunchbase, 3D printing companies have raised about $700 million this year, compared to about $1.7 billion in 2021. He said additive manufacturing as a concept initially faced opposition from investors and companies due to concerns about the quality of 3D printed products and the cost of maintaining the machines.

Source: Labusinessjournal

Funding

$230M
Amount
Nov 20 2023
Date
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Investor
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Company

Classifications

Companies