Voting closes soon in the 3D Printing Industry Awards 2023. Have your say now!
Divergent Adaptive Production System (DAPS) developer Divergent Technologies has announced the successful closure of a Series D equity financing round, securing $230 million.
Leading the round with a $100 million investment was Hexagon AB, accompanied by both new and existing institutional and family office investors. The affirmation of investor confidence in Divergent’s technological approach is underscored by the success of the Series D funding, says the company. With this infusion of funds, the company aims to enhance its capabilities and expand its influence within the digital industrial manufacturing sector.
“DAPS was created to serve as the foundation for a global system of regional manufacturing facilities that combine and fully exploit supercomputing, AI, robotics and additive manufacturing in a novel way,” said Kevin Czinger, Founder, Lead Inventor and CEO. “We now have entered the ‘4D Age’ of fully digitized design-manufacturing-assembly as a service, dematerialized products using and requiring less material and energy, distributed regional production, and democratized access to the tools, data and production assets necessary for innovation in our human-built world.”
Transforming manufacturing through digital innovation
At the core of Divergent’s operations lies the DAPS, a digital industrial manufacturing system that disrupts conventional design, manufacturing, and assembly methods. Through the integration of AI-driven generative design software, additive manufacturing, and automated fixtureless assembly, DAPS seeks to enhance the efficiency and adaptability of the manufacturing process.
DAPS simplifies the computational engineering of structures, employs novel materials, and assembles large multi-part structures. The products that result from this process are positioned in the market as cost-effective, highly customizable, and quickly deployable to meet specific requirements. This adaptability caters to the scalability needs of high-volume production.
Strategically deploying DAPS, Divergent has entered the automotive, aerospace, and defense sectors. In its capacity as a certified Tier 1 supplier, the company caters to seven blue-chip automotive clients, among them Aston Martin and Mercedes-AMG. In addition, Divergent has partnered with six U.S. government contractors within the aerospace and defense industry.
Lukas Czinger, President and Chief Operating Officer at Divergent Technologies, added, “DAPS allows customers to develop higher performing products on faster timelines and with zero design-specific capex, freeing manufacturers from the burdens of legacy design decisions. Divergent is on a mission to rebuild the American industrial base with a truly transformational manufacturing technology.”
Funding boost for 3D printing innovation
Microscale 3D printer manufacturer Boston Micro Fabrication (BMF) secured $24 million in a Series D funding round led by Guotai Junan Securities. The manufacturer strategically aims to allocate the funds for R&D, expanding its product range, and strengthening global partnerships in med tech and high-end manufacturing. This financial move follows a successful $42 million Series C round in 2022, marking a year of substantial growth and progress for the company.
Dental 3D printer manufacturer SprintRay raised over $100 million in Series D funding, as reported by Deal Street Asia. The SoftBank Group’s Vision Fund 2 spearheaded the funding round, with additional support from Yiheng Capital, ZWC Partners, CD Capital, and Marathon Venture Partners. Armed with this capital infusion, the company intended to expand its business beyond its customary U.S. and European markets, aiming to bolster sales in the burgeoning Southeast Asian region.
Read all the 3D Printing Industry coverage from Formnext 2023.
What does the future of 3D printing for the next ten years hold?
What engineering challenges will need to be tackled in the additive manufacturing sector in the coming decade?
While you’re here, why not subscribe to our Youtube channel? Featuring discussion, debriefs, video shorts, and webinar replays.
Are you looking for a job in the additive manufacturing industry? Visit 3D Printing Jobs for a selection of roles in the industry.
Featured image shows the Divergent Adaptive Production System (DAPS) is a complete software/hardware solution designed to replace traditional vehicle manufacturing. Image via Divergent Technologies.