Divergent 3D, the company behind the part 3D printed Blade supercar, has announced the closing of a $23 million Series A funding round led by technology venture capital fund Horizons Ventures.
Divergent 3D will use the new funding to further the commercialisation of its innovative hardware-software platform, which is designed to reduce cost, time-to-market and environmental impact of auto manufacturing.
The Divergent Manufacturing Platform enables manufacturers to quickly design and build new cars at a fraction of the cost and environmental effect of those produced in traditional factories. Using 3D printing as part of its unique NODE system, Divergent 3D claims it can produce vehicle structures that are over 50 percent lighter with lower automotive production costs and fuel consumption.
The NODE system is a new approach to manufacturing that incorporates 3D printed joints, which can connect carbon fibre structures to build an industrial strength chassis in just minutes.
“Divergent 3D is honoured to have earned the confidence of Horizons Ventures, a world leader in innovation that recognises the damage being generated by automotive manufacturing in China and around the world,” Kevin Czinger, CEO of Divergent 3D commented. “This investment enables us to continue our strong momentum by providing resources and relationships to bring our automotive manufacturing technology to as many automakers as possible, especially in China. The time has come for a new model of decentralised car production that fosters pioneering car designs and lowers costs while alleviating environmental damage.”
The announcement strengthens Divergent 3D's development and marketing partnership with global engineering firm Altran, which also invested in the Series A round, and follows the news of a strategic partnership with leading European automaker PSA Group (Peugeot, Citroen & DS) to build full vehicle structures using Divergent 3D’s manufacturing platform.