Leading-edge 3D printing startup Azul 3D has successfully closed a Series A funding round, raising a substantial $15 million from a mix of existing and new investors spanning the globe. Notable contributors to this round include DuPont, a key player in the Series A investment, alongside investors from the EMEA and Asia regions, such as Beta Lab and GS Futures.
DuPont, a significant investor in the Series A transaction, has been collaborating with Azul 3D since 2019, focusing on the development of applications utilizing Azul 3D’s proprietary High-Area Rapid Printing (HARP) technology. Randal King, Vice President of Technology at DuPont Electronics & Industrial, expressed enthusiasm about the technology’s potential. “Our investment underscores our strong belief that Azul 3D and its HARP technology can truly create a new paradigm in manufacturing,” stated King.
Beta Lab CEO Abdulrahman al Olayan emphasized the groundbreaking nature of Azul 3D’s technology, stating, “Azul3D is upending the supply chain and manufacturing process, creating products that were never before possible. 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.”
Support for Azul 3D’s vision also came from John Hartner, the current CEO, who has been an early investor and board member since 2020. Hartner, with a wealth of experience in the technology industry, highlighted Azul 3D’s focus on high-value, high-volume applications that can revolutionize manufacturing in targeted industries. “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,” commented Hartner.
Joining Azul 3D’s board is G. Walter “Wally” Loewenbaum, former chairman of 3D Systems Corp and founder of Rocky Point Ventures. Loewenbaum expressed his enthusiasm for Azul 3D’s technology, stating, “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.”
The funding infusion will be pivotal in furthering the development of Azul 3D’s technology for high-value applications. Specifically, the investment will be utilized to scale production in markets such as manufacturing specialty components for electronics applications and personalized devices. Azul 3D’s proprietary HARP technology, a form of vat polymerization utilizing ultraviolet light, offers precise thermal control and excellent material properties, making it a promising avenue for disrupting traditional manufacturing processes.
