London-based AMFG, a developer of additive manufacturing execution systems and workflow automation software, is continuing its growth trajectory with new members joining its board of directors and undisclosed venture capital funding round. Led by Intel’s global investment organization, Intel Capital, the funds will drive the companies’ shared vision of making fully autonomous manufacturing a reality, heralding what they call “a new age of industrial transformation.”
As part of the fundraiser, which closed on November 1, 2022, Intel Capital investors Jennifer Ard and Alexandra Farmer will be joining AMFG’s board of directors. Intel Capital is the investment arm of major semiconductor player Intel and has backed startups like air taxi manufacturer Volocopter, video eyewear supplier Vuzix, and biotech company KFBIO. Targeting AI, autonomous vehicles, data centers, and other disruptive technology companies, Intel Capital has invested $12.9 billion in over 1,500 companies since 1991. In addition, the global investment firm has been aggressively infusing money in the last couple of years, including 80 billion euros in the European Union (EU) for research, development, and manufacturing.
With this new funding, AMFG will continue to help companies scale and streamline their additive manufacturing processes, further solidifying the brand’s position. According to AMFG, Intel Capital adds value to the company thanks to its engineering expertise, capital, advisory input, and robust network. AMFG believes it has solidified its software solution‘s eligibility to stand at the forefront of the autonomous manufacturing revolution by way of the new investor.
A growing AM market
Since 2014, AMFG has completed seven funding rounds, including a $2 million seed round in 2017 and £350,000 in funding from Innovate UK in 2019 to advance the development of its AI and machine learning technology for additive manufacturing.
This latest financing round comes on the heels of a year of accomplishments for AMFG. This includes expanding into the US through a global headquarters center in Austin, Texas, which places the company in direct contact with the region’s dramatically shifting manufacturing scene and makes several strategic hires for the growing team. With this funding, AMFG says it will advance its vision to pioneer a path into the future of autonomous manufacturing.
Commenting on the new investment, Ard, who is managing director and head of investment operations at Intel Capital, said AM is at an “inflection point,” shifting from rapid prototyping to large-scale part production and penetrating nearly every primary manufacturing-centric industry, including automotive, industrial and consumer goods, healthcare, aerospace, and defense.
“AMFG has become the go-to solution to help companies unlock the full potential of additive manufacturing to keep up with increasing demand. We’re excited to be part of Keyvan Karimi and his team’s journey,” highlights Ard.
With customers in more than 32 countries and across various industries, AMFG focuses on enabling companies to integrate AM successfully into their broader manufacturing processes and scale their AM operations. Companies like HP, L’Oreal, and Decathlon have partnered with AMFG to improve workflow and management capabilities in 3D printing.
Using a technology purposely built for additive manufacturing, AMFG’s solution focuses on streamlining and automating complex workflows with the power of machine learning.
Although the business believes that automation software’s increasing impact over the past few decades, from cutting costs to accelerating production rates, has proven game-changing, in particular for 3D printing technologies, it sees autonomous manufacturing as still in the “infancy of its adoption,” hindering the industry’s growth rate and furthering a country’s reliance on imported goods.
Namely, in the case of the US, AMFG says that if the country wants to scale independent manufacturing processes, then autonomous manufacturing must be fine-tuned and embraced far beyond its current footprint, with widespread implementation promising to open up new job markets and boost government incentives to transform its manufacturing landscape.
Working towards that goal, AMFG has developed software systems that provide a platform through which to manage and optimize performance. Notably, it considers that its manufacturing execution systems (MES) software for AM encapsulates every stage of the manufacturing process and helps companies across industries scale their autonomous 3D printing processes. Through Intel Capital’s new investment, network and expertise, AMFG hopes to transform and redefine supply chains and product life cycles, accelerating the revolution toward autonomous additive manufacturing.
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