Divergent 3D closes $23 million funding round
Divergent 3D has closed a $23 million Series A funding round led by technology venture capital fund Horizons Ventures. Divergent 3D will apply the new funding toward commercializing its pathbreaking hardware-software platform, which slashes the capital costs, time-to-market and environmental impact of auto manufacturing.
Divergent 3D’s strategic partner, Altran, the world’s largest automotive and aerospace engineering services provider, also invested in this round.
The Divergent Manufacturing Platform™ enables automakers to quickly design and build new cars at a fraction of the cost and environmental impact of those produced in traditional capital-intensive factories. Through the power of 3D printing, Divergent 3D can lower capital investment and production costs while producing vehicle structures that are over 50 percent lighter and require less fuel to drive.
“Divergent 3D is honored to have earned the confidence of Horizons Ventures, a world leader in innovation that recognizes the damage being generated by automotive manufacturing in China and around the world,” said Kevin Czinger, CEO of Divergent 3D. “This investment enables us to continue our strong momentum by providing resources and relationships to bring our automotive manufacturing technology to as many automakers as possible, especially in China. The time has come for a new model of decentralized car production that fosters pioneering car designs and lowers costs while alleviating environmental damage.”
The announcement follows the launch of a development and marketing partnership with global engineering firm Altran, also an investor in the Series A round, and a strategic partnership with leading European automaker PSA Group (Peugeot, Citroen & DS) to build full vehicle structures using Divergent 3D’s manufacturing platform.