Azul 3D raises $15 million in Series A funding round; DuPont among investors
Summary
Polymer 3D printing company Azul 3D has closed a 15 million USD Series A funding round from existing and new investors.DuPont has been named as a lead investor in the Series A transaction, while contributions have been made by Beta Lab and GS Futures.The funding will be used to facilitate technology development in high-value applications and will be used to scale production in markets, such as the manufacturing of specialty components for electronics applications and personalised devices, that can take advantage of Azul 3Ds High-Area Rapid Printing (HARP) technology. This is said to allow users to build objects with precise thermal control and excellent material properties.It has attracted the investment of a series of industrial players, with DuPont chief among them. It has the ability to flip verticals that have long been stagnant.Azul3D has become very focused on high-value, high-volume applications where we believe our 3D printing technology can be a game-changer, said John Hartner, CEO of Azul 3D since June 2023, having joined the companys board in 2020 and been an early investor. This new financing, particularly with the robust valuation, stands out against the current funding environment and shows the excitement surrounding this path and its potential for disrupting manufacturing in targeted industries.Azul 3D has also announced G. Walter Wally Loewenbaum, the former chairman of 3D Systems Corp and founder of Rocky Point Ventures, as its newest board member.This is the most excited I have been about photopolymer 3D printing in a long time, Loewenbaum offered. Im excited to be a part of Azul 3D as it enters this next phase.Azul 3D previously raised $12.5m in an oversubscribed financing round back in August 2020 as it prepared to commercialise its HARP technology, which was launched via the LAKE printer in September 2021.