Azul 3D raises $15 million in Series A funding round; DuPont among investors
Polymer 3D Printing Company Azul 3D The Series A round of funding has been closed with 15 million dollars from both existing and new investors.
DuPont Beta Lab, GS Futures and a number of other investors have contributed to this Series A transaction.
The funding will be used to facilitate ‘technology development in high-value applications’ and will be used to scale production in markets, such as the ‘manufacturing of specialty components for electronics applications and personalised devices, that can take advantage of Azul 3D’s High-Area Rapid Printing (HARP) technology.’ HARP is Azul’s proprietary form of vat polymerisation which converts liquid plastic into solid objects using ultraviolet light, while employing a unique liquid interface that remains molecularly flat during continuous printing. This is said to allow users to build objects with ‘precise thermal control and excellent material properties.’
DuPont is one of the major industrial investors. Azul has worked with DuPont, a company that installed a LAKE printer last year, since 2019. The company is currently developing applications using the LAKE. DuPont has also joined Beta Lab in conveying its confidence in the HARP technology, with the former suggesting it can impact manufacturing standards and the latter noting its potential to transform manufacturing supply chains.
“We are very excited about the potential of this technology to create new business opportunities with DuPont,” commented Randal King, Vice President, Technology, DuPont Electronics & Industrial. “Our investment underscores our strong belief that Azul 3D and its HARP technology can truly create a new paradigm in manufacturing.”
“Azul3D is upending the supply chain and manufacturing process, creating products that were never before possible,” added Beta Lab CEO Abdulrahman al Olayan. “We invested in this company because it is unlike anything we have seen in the 3D printing space. It has the ability to flip verticals that have long been stagnant.”
“Azul3D has become very focused on high-value, high-volume applications where we believe our 3D printing technology can be a game-changer,” said John Hartner, CEO of Azul 3D since June 2023, having joined the company’s board in 2020 and been an early investor. “This new financing, particularly with the robust valuation, stands out against the current funding environment and shows the excitement surrounding this path and its potential for disrupting manufacturing in targeted industries.”
Azul 3D has also announced G. Walter “Wally” Loewenbaum, the former chairman of 3D Systems Corp and founder of Rocky Point Ventures, as its newest board member.
“This is the most excited I have been about photopolymer 3D printing in a long time,” Loewenbaum offered. “With this technology, we have the potential to capture high-value markets and enable innovative new products. I’m excited to be a part of Azul 3D as it enters this next phase.”
Azul 3D previously raised $12.5m in an oversubscribed financing round back in August 2020 as it prepared to commercialise its HARP technology, which was launched via the LAKE printer in September 2021.
