Los Angeles, CA based 3D printed car manufacturers Divergent 3D has acquired $23 million in its first round of venture capital funding. The investment was led by the Hong Kong based Horizons Ventures, a fund founded for technological investments by Li Ka-shing in 2006.
Investors
According to Forbes’ 2016 ranking of The World’s Billionaires, Ka-shing is the richest person in Hong Kong, with an estimated net worth of $27.1 billion. Ka-shing started out building his fortune in 1950 by manufacturing plastics. The methods he used enabled the low-cost production of colourful plastic flowers, and made his plant at the time the largest supplier of the artificial plants in Asia.
The French engineering consultancy firm Altran also contributed to the multi-million-dollar fund, strengthening their existing strategic partnership with Divergent 3D to provide development and marketing support.
Divergent 3D’s modular Node technology
Divergent 3D are know in the automotive sector for their modular approach to additive manufacturing, most recently attracting attention at the 2016 LA Autoshow and CES 2017. Divergent 3D Node technology allows quick assembly of a 3D printed metal car frame.
The methods also significantly cut down on the amount of waste material and cost of traditional car manufacturing methods.
Expanding into China
Divergent 3D already has a strategic partnership with European automotive manufacturers Groupe PSA, who make Peugeot and Citroën cars, and this investment is a clear move to a worldwide market. In a statement Divergent 3D CEO, Kevin Czinger, comments:
This investment enables us to continue our strong momentum by providing resources and relationships to bring our automotive manufacturing technology to as many automakers as possible, especially in China.
Adding that:
The time has come for a new model of decentralized car production that fosters pioneering car designs and lowers costs while alleviating environmental damage.
Featured image shows the Divergent 3D Blade Supercar. Photo via: Divergent3D.com
