Startup Divergent 3D has big goals. What the company wants to do is nothing less than to transform the automotive industry by using additive manufacturing to build vehicles more quickly, inexpensively and sustainably. Its Divergent Manufacturing Platform is capable of reducing the weight of an average five-passenger car by over 50 percent, and reducing the number of parts per vehicle by more than 75 percent. The company describes its process as Planet-Saving Manufacturing – not only does its technology use less energy and resources and produce less waste, the cars themselves are more energy-efficient thanks to their reduced weight.
Divergent 3D has showcased its technology in the Blade supercar and Dagger motorcycle, and has won plenty of admirers. Those admirers include investors willing to fund the startup’s mission; in January of this year, Divergent 3D received $23 million in Series A funding, and now the company has announced that it is slated to close Series B financing by December 15th.
The Series B close is $65+ million with an additional investor option of $40 million to further accelerate revenue growth. That brings the aggregate funding to $107 million. The investment group is being led by Hong Kong-based investment holding company O Luxe Holdings Limited, with other companies in the group including Horizons Ventures, Shanghai Alliance Investment Limited, and Altran Technologies.
“With the ability to quickly respond to market demands, the Divergent system allows automakers and technology companies to innovate at a much faster rate—scaling up volume production at only a fraction of the cost while also alleviating environmental damage,” said Kevin Czinger, Founder and CEO of Divergent 3D. “As a leading investment holding company dedicated to advancing sustainable manufacturing and transportation, O Luxe aligns with Divergent’s mission and fully understands the importance of disruptive technologies to the automotive industry. We are thrilled to partner with a company that supports our growth and vision.”
Divergent 3D was founded in 2014, and has already made progress toward its goal of transforming the auto manufacturing industry. The Blade supercar, which was built as an eye-catching demonstrator for the company’s technology, showed the industry that 3D printing was an actual, viable way of producing vehicles, and that Divergent 3D’s technology was something to pay attention to.
“In five to ten years, we foresee widespread adoption of 3D printing in the auto industry–carmakers will require only a fraction of today’s upfront capital cost and materials to make a car,” Czinger told 3DPrint.com in a 2016 interview. “Ten years out, the world will be well-acquainted with 3D-printed cars, which will be far safer and better performing than today’s vehicles.”
The Series B funding will help Divergent 3D to more quickly commercialize the technology, meaning that 3D printed cars may soon be appearing on the roads and not just showroom floors. The latest group of investors will also give the company the resources to spread the technology on a global level, particularly in the growing electrical vehicle market in China. The automotive industry may not have been transformed into an eco-friendly, super-efficient one just yet, but with help from Divergent 3D, it may be on its way.
Discuss this and other 3D printing topics at 3DPrintBoard.com or share your thoughts below.[Images: Divergent 3D]
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