Khosla Ventures Leads $5 Million Series A Financing of Digital Alloys, Inc., a Multi-metal 3D Printing Spin-out of NVBOTS
Mar 08, 2017, 07:35 ET
BURLINGTON, Mass., March 8, 2017 /PRNewswire/ -- Digital Alloys, Inc. the leading provider of high-speed, multi-metal additive manufacturing systems, today announced a $5M Series A financing led by Khosla Ventures that funds the launch of its first products. The Digital Alloys system prints production-quality parts, in almost any metal, at a fraction of the cost of other metal 3D printers. The company's printers have the unique ability to mix multiple metals in a solid part, enabling customers to push the limits of design and create new products with enhanced thermal, electrical, magnetic, and mechanical properties.
Digital Alloys was formed in January 2017 as a spinout from the NVLabs division of New Valence Robotics, Inc. (NVBOTS). NVBOTS, under the leadership of Chairman and Founder AJ Perez, will continue growing the NVPro automated polymer 3D printer business. NVLabs will be announcing new initiatives in the upcoming weeks.
"We are pleased to add one of the world's top venture capital firms to the Digital Alloys team", said Duncan McCallum, CEO of Digital Alloys Inc. "Khosla Ventures has deep expertise and connections in the additive manufacturing industry that will help accelerate the launch of our first products." Khosla Ventures is an active investor in the 3D printing market. Its other investments include: Arevo, Feetz, and Velo3D.
"Digital Alloys is building the fastest metal 3D printer we've seen, and it uses low-cost wire as its raw material. These factors will yield large advantages in cost-per-printed-part", said Dr. Vijit Sabnis, venture partner at Khosla Ventures. He added that "the ability to mix metals in a single part will enable customers to create new products with thermal, electrical, magnetic, and mechanical properties that would be impossible to achieve any other way."
About Digital Alloys, Inc.
Digital Alloys develops high-speed, multi-metal additive manufacturing systems that print production quality parts, in almost any metal, at a fraction of the cost of other systems, making metal 3D metal printing economical for a greatly expanded mix of applications. Digital Alloys metal 3D printers have the unique ability to mix multiple metals in a solid part, enabling customers to push the limits of design and create new products with optimized thermal, electrical, magnetic, and mechanical properties. The company is led by an experienced management team, and backed by Khosla Ventures. For more information visit www.digitalalloys.com.
About Khosla Ventures
Khosla Ventures provides venture assistance and strategic advice to entrepreneurs working on breakthrough technologies. The firm was founded in 2004 by Vinod Khosla, co-founder of Sun Microsystems. With over four billion dollars under management, the firm focuses on a broad range of areas including consumer, enterprise, education, advertising, financial services, semiconductors, health, big data, agriculture/food, sustainable energy and robotics. Khosla Ventures is headquartered in Menlo Park, Calif.
About New Valence Robotics
The mission of NVBOTS® is to make enterprise 3D printing as easy as printing on paper. The company's NVPro 3D printer is Built to Share™. It offers the only automated part ejection in the industry (patent #US 9,289,946), and is paired with NVCloud software that allows users to easily print parts anytime, from any device – while providing administrators with full workflow control. These capabilities make the NVPro uniquely suited for continuous 24-7 operation in multi-user environments. NVBOTS is headquartered in Boston, MA. For more information, visit www.nvbots.com or follow us on Twitter @NVBOTS and on LinkedIn.
Contacts:
Duncan McCallum, CEO
Digital Alloys, Inc.
[email protected]
AJ Perez, Chairman & Founder
New Valence Robotics Corporation
[email protected]
(954) 857-4641
SOURCE New Valence Robotics Corporation