Equispheres lands $20M in a series B funding round

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(as of December 23, 2024 21:34 GMT +00:00 - )

Canadian 3D printing powder developer Equispheres has recently secured a significant amount of funding in its Series B financing round, raising approximately CAD 20 million. The financing round was led by Martinrea International, with participation from INFOR Financial and Stifel Nicolaus Canada. Equispheres’ atomization technology for metal powders has shown the potential to enhance industrial additive manufacturing, particularly in terms of increasing printing speeds and reducing costs. The company plans to use the funding to expand its production capabilities, improve its facilities, and explore new materials. This recent development highlights the growing interest and investment in the additive manufacturing industry, as companies seek to further advance and innovate within the field.

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Equispheres secures $20M in series B funding

Canadian 3D printing powder developer, Equispheres, has successfully secured an initial close on its Series B financing, raising approximately CAD 20 million. The financing round was led by Martinrea International, with participation from INFOR Financial and Stifel Nicolaus Canada. Throughout the financing process, Equispheres received legal counsel from McCarthy Tétrault. The company plans to keep the financing opportunity open until June 30, 2024.

Equispheres aims to reduce additive manufacturing costs

Equispheres believes that the key to reducing the overall cost of additive manufacturing lies in partnering with its customers. By working closely with customers, Equispheres aims to decrease the cost of additive manufacturing and make it more accessible. The company recognizes that metal powders are a crucial component of the additive manufacturing value chain. With the global aluminum casting market estimated to be worth approximately $100 billion annually, Equispheres sees significant growth potential in this sector.

Equispheres’ atomization technology enhances industrial additive manufacturing

Equispheres has developed atomization technology specifically for metal powders, with the goal of improving industrial additive manufacturing processes. One of their notable achievements is the development of aluminum powders that increase printing speeds and reduce costs. Through collaboration with Aconity3D, Equispheres was able to achieve production speeds exceeding 430 cm3/hr for a single laser. They are also working with Aconity3D to explore laser beam shaping, which has the potential to further enhance productivity and precision in additive manufacturing processes.

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Previous funding rounds and partnerships

In addition to the Series B funding, Equispheres has received $3.5 million in funding from the Federal Economic Development Agency for Southern Ontario (FEDDEV). This funding was aimed at accelerating the production of Equispheres’ aluminum 3D printing powders. The company also collaborated with Roboze to further advance the production of these powders. Equispheres has secured funding from industry leaders such as Martinrea International and Aconity3D, further highlighting the company’s commitment to innovation and growth.

Allocation of series B funding

The series B funding will be allocated to various essential efforts. Equispheres plans to introduce multiple new reactors in 2024 to expand its production capabilities. This expansion is crucial to meet the growing demands of the market. The company also aims to improve its facilities and cultivate collaborative partnerships with strategic allies for further material exploration.

Similar funding rounds in the 3D printing industry

Equispheres is not the only company in the 3D printing industry to secure significant funding. Zeda, a California-based nanotech and 3D manufacturing firm, raised $52 million in a series B round. The funding will be used to establish a new advanced manufacturing digital foundry. Another company, Additive Manufacturing Technologies (AMT), completed an £11M ($15M) series B funding round. The funding will support the roll-out of AMT’s products and scaling of its operations.

Anticipated trends in the 3D printing industry

Industry leaders have shared insights on upcoming trends in the 3D printing industry. These trends include advancements in materials, such as the development of new metal alloys for additive manufacturing. There is also a growing focus on sustainability, with companies exploring eco-friendly materials and processes. Another anticipated trend is the integration of 3D printing with other technologies, such as robotics and artificial intelligence, to further automate and optimize manufacturing processes.

Stay updated with the latest 3D printing news

To stay updated with the latest 3D printing news, you can subscribe to the 3D Printing Industry newsletter. This will provide you with regular updates on industry developments, product launches, and industry events. You can also follow 3D Printing Industry on Twitter and Facebook for real-time news and updates. Additionally, subscribing to the 3D Printing Industry YouTube channel will give you access to informative videos on 3D printing technologies and applications.

Job opportunities in the additive manufacturing industry

If you’re interested in a career in the additive manufacturing industry, you can visit 3D Printing Jobs for a selection of roles in the industry. This platform provides job listings from various companies in the 3D printing sector, including positions in engineering, research and development, and manufacturing. Whether you’re an experienced professional or just starting your career, there are opportunities available for individuals with different skill sets and backgrounds.

In conclusion, Equispheres’ successful series B funding round is a testament to the company’s commitment to innovation and growth in the additive manufacturing industry. With the funding, Equispheres aims to reduce the overall cost of additive manufacturing, enhance industrial additive manufacturing processes, and explore new materials and partnerships. As the 3D printing industry continues to evolve, it is crucial to stay updated with the latest news and advancements in the field.

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