Wayland Additive Limited has closed a £4.6 million funding round, with backing from existing investors Longwall Ventures, Parkwalk Advisors and ACF Investors. Strategic investor Metrea Discovery joins the round as a new supporter of the business. The UK-based company develops and commercializes electron beam 3D printing systems that would deliver greater precision than existing laser-based technologies.
As a reminder, its flagship product, the Calibur3 could produce high precision and complex components (often made from advanced metal alloys) for aerospace, mining, and medical industries. It features the Neubeam® process which delivers on all of the advantages of metal electron beam (eBeam) technology, while overcoming the troublesome issues that have traditionally limited wider adoption. Wayland’s machines can print highly specialised ‘super materials’, like “the world’s hardest steel” or tungsten, remotely and on demand. These materials, which can be used in high temperature and high wear applications, also enable the development of new downstream technologies in a wide range of industries.
The funding will serve to increase the company’s in-house production capability to deliver more machines and materials to customers. On the continuum between ‘make to order’ and ‘buy off-the-shelf’, the company is moving significantly towards the latter through a concerted focus on mitigating supply chain issues, which should reduce order to delivery to a matter of a couple of months. The investment will also go towards further hiring, in particular the recruitment of a COO, as well as supporting further research and development.
Will Richardson, CEO Wayland Additive said: “Since our last funding round, we have formally launched our machines into the market and are already seeing considerable traction, with demand from across the globe. By providing bespoke additive manufacturing to our customers, we can play a pivotal role in streamlining their operations and give them the tools to unlock their potential, with high value components at the touch of a button. It’s great to have our existing investors continuing to support us as we grow, as well as new strategic investor Metrea. We are excited by the prospect of bringing our machines to businesses who need them around the world and this investment will supercharge that mission.”
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