The 3D printing company will become a global market leader after raising an additional £ 2.5 million.
A British company aiming to become a world leader in the 3D printing industry has raised an additional £ 2.5m after announcing partnerships with the world’s leading industry players.
Additive Manufacturing Technology (AMT) is where the equipment automates the final stages of the 3D manufacturing process. NPIF – Mercia Equity Finance, Managed by parts of the Mercia and Northern Powerhouse Investment Fund. Foresight Williams Technology; Government Future Fund. DSM Venturing, the global startup investment arm of Royal DSM. And individual investors.
In the latest round of funding, Shefield-based companies have raised more than £ 7 million to date. Following the recent success of AMT, which has agreed to a partnership with technology giant HP, it positions the technology as the preferred aftertreatment solution alongside HP’s various industrial 3D printers.
AMT’s PostPro technology is a fully automated surface finishing solution for 3D printed components. Currently, this cleaning and polishing process has to be done manually and can account for 30% of the cost of 3D printed parts. AMT’s technology not only reduces costs, but also has the potential to enable 3D printing for mass production across industries such as automotive, industrial, medical and sporting goods.
AMT, which doubled its revenue year-on-year in 2020, is based on technology founded by Joseph Crabtree in 2017 and developed at the University of Sheffield. We currently employ more than 80 staff at our headquarters in Sheffield, our manufacturing facility in Hungary, and our office in Texas.
AMT secured a £ 750,000 investment from NPIF in February 2019 and an additional £ 4.2 million later this year in a Series A funding round led by DSM Venturing and the Foresight Williams Technology EIS Fund. With the latest investments, you can continue your growth and product development plans.
Joseph Crabtree, CEO of AMT, said:
“Our mission is to be the world’s first application-centric provider of end-to-end industrialized automated aftertreatment systems. This latest investment is the potential of industrial laminates and their sustainable impact. Helps you get the most out of it. “
Mercia’s Nigel Owens said:
“AMT’s technology is accelerating the adoption of 3D printing in many industries and transforming the manufacturing industry. The company is becoming more and more powerful, and recent HP partnership agreements represent the highest level of technology acceptance. So it’s another big milestone. With this latest funding, AMT can take advantage of its success and continue to grow rapidly. “
Ken Cooper of the British Business Bank said:
“This investment shows how NPIF supports high-growth businesses in the north like AMT and frees additional capital from other investors. As the economy begins to recover, demand for equity finance is in the north. Expected to increase overall, we are pleased that NPIF can support more innovative and growing companies like AMT. “
The Northern Powerhouse Investment Fund Project is financially backed by the European Union, using funds from the European Regional Development Fund (ERDF) as part of the European Structural Investment Fund Growth Program 2014-2020 and the European Investment Bank. ..
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About Mercia Asset Management PLC
Mercia is an active and professional asset management company focused on helping local SMEs reach their growth goals. Mercia provides capital across four asset classes: balance sheet, venture, private equity, and debt equity, the group’s “fully capitalized solution.” The group initially nurtures its business through managed third-party funding, after which Mercia provides additional funding to the most promising companies by developing subsequent capital for direct investment from its balance sheet. You will be able to do it.
Through eight offices, 19 university partnerships, and an extensive personal network, Mercia has a strong regional footprint in the UK and provides access to high quality trading flows. Marcia owns approximately £ 800 million in assets under management and has invested more than £ 90.0 million in its entire direct investment portfolio since its IPO in December 2014.
The Group raises its own Venture Capital Trust (VCT) and Enterprise Investment Scheme (EIS) funds, please visit the Mercia website for more information on open offers.
Mercia Asset Management PLC is quoted in AIM with the epic “MERC” and includes the following wholly owned subsidiaries –
- Mercia Fund Management Limited is approved and regulated by the FCA under company reference number 524856.
- Enterprise Ventures Limited is endorsed and regulated by the FCA under company reference number 183363.
- EV Business Loans Limited is licensed and regulated by the FCA under company reference number 443560.
About the Northern Powerhouse Investment Fund
- The Northern Powerhouse Investment Fund invests in microfinance, business loan and equity finance subfunds, ranging from £ 25,000 to £ 2 million, especially to help SMEs secure the funds they need to grow and develop. Offers.
- The Northern Powerhouse Investment Fund is operated by British Business Financial Services Limited, which is wholly owned by British Business Bank, the UK’s National Economic Development Bank. Founded in November 2014, its mission is to make SMEs’ financial markets function more effectively and enable them to prosper, grow and build economic activity in the UK.
- The Northern Powerhouse Investment Fund is supported by the European Regional Development Fund, the European Investment Bank, the Department for Business, Energy and Industrial Strategy, and the UK Business Finance Limited, a UK Business Bank Group company.
- NPIF covers the following LEP areas: Tees Valley Joint Agency, Manchester, Cheshire and Warrington, Cambria, Liverpool City Region, Lancashire, Hamburger, Leeds City Region, Sheffield City Region, York, North Yorkshire, East Riding
- The project has received up to £ 140,359,192 from the UK European Regional Development Fund as part of the European Structural Investment Fund Growth Program 2014-2020. The Community and Local Government Departments are the governing bodies of the European Regional Development Fund. Founded by the European Union, the European Regional Development Fund helps the region stimulate economic development by investing in projects that support innovation, business, job creation and the revitalization of local communities. For more information, please visit: https://www.gov.uk/european-growth-funding..
- The funds invested by the Northern Powerhouse Investment Fund are open to companies operating or planning to start material operations in Yorkshire and the Humber, Northwest and Tees Valley.
- The British Business Bank publishes a Business Finance Guide (allied with ICAEW and 21 other business and finance organizations). This guide provides a fair view of the range of funding options available to businesses and provides links to support available at the local level. www.thebusinessfinanceguide.co.uk/bbb
Additive Manufacturing Technologies Secures £ 2.5m for Mercia-led Series A Follow-on Investment – UK Tech Investment News
Source link Additive Manufacturing Technologies Secures £ 2.5m for Mercia-led Series A Follow-on Investment – UK Tech Investment News