Earlier this year, TechCrunch revealed that Ursa Major Technologies, the Colorado-based startup specializing in using additive manufacturing (AM) for modular rocket engines, had taken in $100 million in its Series D financing round. Now, Ursa Major has announced that it extended the fundraising round to include a Series D-1 round, which landed the company an additional $38 million, bringing the total raised this year to $138 million.
Less than two weeks prior to the announcement, Ursa Major had announced the company’s Lynx platform, for modular 3D printing of solid rocket motors (SRMs). According to Ursa Major’s CEO, Joe Laurienti, supporting the development of Lynx will be one of the primary uses of the Series D-1 funds:
These days, SRMs are most commonly used for man-portable missile systems like Stingers and Javelins. In an interview about the Lynx platform with Ursa Major’s chief operating officer (COO), Nick Doucette, the COO explained, “We’re starting to wake up to the fact that we have to be careful about maintaining the types of manufacturing capabilities the US really needs to continue its position as a world leader.”
The fact that further development of Lynx was the pivotal reason behind Ursa Major’s offering of the Series D-1 round confirms the extent to which decision-makers in the US defense industrial base (DIB) are turning to AM as the central solution to the US’s struggle to reshore manufacturing. A crucial thing to keep in mind is the sheer pace at which this is all happening: those with the responsibility for managing the DIB can’t wait for “perfect” solutions, they can only try to support the best available solutions at any given time.
In that sense, most everyone who follows the advanced manufacturing landscape at this point knows that AM comprises the area of Industry 4.0 that is most technologically mature. Thus, while the preparatory stage for the US AM buildup has often felt excruciatingly slow, the buildup proper will likely take off at a pace that feels overwhelmingly fast. There are no guarantees that 2024 will be the year when that reality takes hold, but the trajectories of many critical spheres across the whole global economy do seem to be lining up that way.
Subscribe to Our Email Newsletter
Stay up-to-date on all the latest news from the 3D printing industry and receive information and offers from third party vendors.
You May Also Like
3D Printing Consolidation or Collaboration? The Driving Theme of AMS 2024
One of the defining features of the Additive Manufacturing Strategies (AMS) business summit has been its emphasis on the financial aspects of the 3D printing market. That was no different...
Dimension Inx CMFlex Pioneers Surgeries as FDA’s First Cleared 3D Printed Bone Graft
Marking a new milestone in 3D printed medical innovation, the first 3D printed regenerative bone graft product is now making its way into surgeries, offering a pioneering solution for bone...
3D Printing’s Journey to a New Industrial Reality
In the world of 3D printing, we stand to witness a revolution unfold before our eyes. As the saying goes, “There’s a time and place for everything,” and for 3D...
Materialise to 3D Print Aircraft Cabin Parts via Partnership with Stirling Dynamics and Proponent
3D printing software and service provider Materialise NV (NASDAQ:MTLS) is extending its role in the field of maintenance, repair, and overhaul (MRO) for the aerospace sector. Together with Proponent, the...
Upload your 3D Models and get them printed quickly and efficiently.