Silicon Valley-based 3D printing technology, software and materials development company AREVO has just announced that it has received a $7 million Series A round of funding led by Menlo Park-based venture capital firm Khosla Ventures. Khosla Ventures currently manages more than $1.3 billion of investor capital for startups and early stage companies developing products for internet technology, advanced computing, clean technology and mobile technologies, and is one of the five largest active investors in the commercial space sector. In addition to the investment funding, venture partner at Khosla Ventures Vijit Sabnis will be joining the AREVO Board of Directors, where he well help guide the young company.
AREVO is primarily known for their line of next-generation 3D printing composite materials, their six-axis 3D printing platform and their cloud-based software that optimizes composite material deposition to maximize durability. The company also recently won the first Autodesk REAL Deal Startup competition, which focuses on the development of technologies that seamlessly combine hardware and software applications to create an ecosystem of converging 3D technologies. It was AREVO’s composite materials that stood out in the competition. They are up to five times stronger than many titanium-based materials, and the software that helps orientate the materials’ carbon fibers into microscale structures that produce some of the highest strength-to-weight ratio in the industry.
“We are pleased to continue our momentum with this important investment round led by Khosla Ventures. Our 3D printing technology and software suites will lead to higher quality parts in the aerospace, medical, and automotive industries. This funding will enable us to meet our near-term product development objectives, which will be announced later this year,” said CEO and Founder of AREVO Hemant Bheda.
Late last year the Santa Clara-based AREVO turned some heads when they introduced their first-of-its-kind Multi-Axis Robotic Additive Manufacturing Platform. The new 3D printing platform combined a commercially available robotic arm system from ABB Robotics with advanced 3D printing technology, making them one of the first companies to truly develop a six-axis 3D printing system. By including a 3D printing toolhead that includes a state-of-the-art carbon fiber-reinforced thermoplastic filament deposition nozzle and high-performance thermal management technology, AREVO puts an entirely new spin on standard FDM technology. This combination of technologies has allowed for truly three-dimensional additive manufacturing for a wide range of industrial applications, including the aerospace, medical, and automotive industries.
“We at Khosla Ventures have been impressed by Hemant’s team and the vision put forth by AREVO, which we feel offers disruptive technology to 3D print production parts with unique characteristics, achieving a performance that cannot be matched using any conventional method or other additive manufacturing technique,” said the founder of Khosla Ventures, Vinod Khosla.
The investment capital will allow AREVO to continue to develop their next-generation additive manufacturing technology and industrial-grade 3D printing materials. The company is also expected to continue to offer to develop additive manufacturing services and technologies for OEMs all over the world. You can learn more about their advanced 3D printing technologies over on the AREVO website, and you can learn more about the extensive list of tech companies that Khosla Ventures has supported here. Discuss further in the 3D Printing Company AREVO Seed Funding forum over at 3DPB.com.