28 June 2016
28 June 2016
AREVO has launched a $7M Series A funding round led by Khosla Ventures, coincident with the investment, Vijit Sabnis from Khosla Ventures will join the AREVO Board of Directors.
AREVO explains that it recently won the Autodesk REAL Deal Start Up competition and has introduced 3D printing industry innovations such as a first-of-its-kind multi-axis robotic additive manufacturing platform, composite material with five times the strength of titanium, and cloud-based software optimising fibre placement in true 3D orientations to derive the highest strength-to-weight ratio.
“We are pleased to continue our momentum with this important investment round led by Khosla Ventures,” said Hemant Bheda, CEO and Founder of AREVO. “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.”
“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 Vinod Khosla, the Founder of Khosla Ventures.
The Metyx Hungary factory, located in Kaposvár, has recently expanded its warehousing facilities, adding an additional 3,024 m2 of enclosed storage space for composite technical fabrics, packaging and FRP tooling.
The American Composites Manufacturers Association participated in a roundtable discussion about the IMAGINE Act. Known as the Innovative Materials in American Growth and Infrastructure, Newly Expanded (IMAGINE) Act, the new bill is designed to promote the increased use of innovative materials like fibre reinforced polymer (FRP) composites, as well as new manufacturing methods to accelerate the deployment and extend the life of infrastructure projects.
3A Composites Core Materials reports that its BALTEK SB balsa core has been ABS-approved for more than 20 years.