Boeing HorizonX Ventures, the seed and mid/growth stage investment arm of the Boeing aerospace corporation, has provided further funding to metal 3D printing specialist Morf3D.
Founded in 2015, the additive manufacturing and consultancy service received its first financial support from Horizon X in 2018. Both figures, from the funding in 2018 and the new funding dated August 30, 2019, remain undisclosed by the parties. This second round of investment from HorizonX however follows a reported “significant increase in customer demand” at Morf3D.
Brian Schettler, Senior Managing Director at Boeing HorizonX Ventures, comments, “Our latest strategic investment in Morf3D extends our commitment to our Industry 4.0 efforts —technologies that can transform aerospace supply chains for future growth and competitiveness.”
“We continue to work closely with Morf3D to help them bring innovation through additive manufacturing to more aerospace manufacturing partners.”
Morf3D additive manufacturing
Morf3D offers services in engineering and manufacturing. The engineering aspect of the business encompasses the company’s comprehensive design expertise which includes conceptualization and parameter optimization. AS9100:D and ISO 9001:2008 certified and ITAR Registered, the company’s manufacturing service is fulfilled by a fleet of metal 3D printers, as well as finishing, examination, certification and data analysis. Since 2017, the company has had an alliance with inspection software specialist Sigma Labs which bolsters Morf3D’s quality assurance offering.
Direct metal laser sintering (DMLS) is the method of choice at Morf3D, and the company currently has a workforce of at least 7 systems dealing with this service. All machines are provided by leading metal 3D printer manufacturer EOS, and include four M290s, one M400-1 and two M400-2s. Morf3D also has the capacity for precision CNC and electrical discharge machining, which is one of the areas that recently expanded due to stronger demand.
In addition to subtractive capabilities, Morf3D has reportedly expanded its additive manufacturing footprint, and doubled its workforce of late. Speaking to Ivan Madera, founder and CEO of Morf3D at Farnborough Airshow in 2018, this expansion was seemingly anticipated a year in advance as the company took on more satellite and rotor craft projects. In addition to Boeing, notable customers of Morf3D include Honeywell and Collins Aerospace.
The Boeing HorizonX Ventures portfolio
Boeing HorizonX Ventures was founded in 2017 and currently has around 20 companies in its investment portfolio. One of these companies includes Boston based metal 3D printer Digital Alloys. In a series B funding round led by G20 Ventures, HorizonX contributed to an investment of $12.9 million in the company in 2018. Other investments in HorizonX’s portfolio range in everything from $3 million to $37.3 million, with the majority of investments falling within the $10 to $16 million bracket.
Commenting on the recently secured funding for Morf3D, Madera said, “It is amazing to see our strategy come to life. Our vision to become a world-class leader in metals additive manufacturing for the aerospace industry is truly taking form,”
“At Morf3D, we don’t sell parts in the traditional sense. We sell a process that evokes certainty.”
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Featured image shows Morf3D’s R&D Innovation Center. Photo via Morf3D.
