Metallic additive manufacturing (AM) firm Wayland Additive has introduced it has efficiently secured 4.2 million GBP in funding to broaden its operations.
The UK-based electron beam 3D printing specialist says the funding will likely be used to allow the expansion of its world buyer base and improve in-house manufacturing for its Calibur3 metallic AM programs, launched in 2021.
Will Richardson, CEO of Wayland, mentioned: “Wayland has grown exponentially over the previous 12 months, with this newest increase representing a significant milestone for our enterprise as we proceed to hunt further funding over the approaching 12 months. After a profitable 2023, we’re setting our sights on additional creating our in-house manufacturing capability and growing our world buyer base to allow extra sectors to learn from our cutting-edge election beam printing expertise.”
The funding spherical was led by Parkwalk Advisors, which has supported the corporate since 2021, and included help from long-term backer Longwell Ventures. This present funding spherical will stay open, with a goal of 10 million GBP. It follows a 4.6 million GBP oversubscribed Sequence A funding Spherical in April 2023 to help the supply of extra machines and supplies to its prospects.
Martin Glen, Funding Director of Parkwalk Advisors, mentioned: “We’re proud to be taking part in a number one function in rising Wayland Additive because it continues its journey to scale up its operations. Wayland is a first-rate instance of a college spinout driving actual constructive change by deploying distinctive, cutting-edge expertise to a variety of sectors and challenges. We’re excited to see the corporate develop additional.”
In February 2023, Wayland introduced a manufacturing ramp up of its flagship 3D printer, having already shipped machines to the likes of EWI and the Royal Air Drive (RAF) the earlier 12 months. On the time, the corporate confirmed that one other six machines have been in manufacturing with parts being procured to fabricate one other ten by the top of final 12 months.
