E3D "Series B funding round expected to grow from $10.2M to $22M
On January 12, 2022, Elementum 3D announced the company has raised $10.2 million in a Series B funding round via the filing of a Form D with the U.S. Securities and Exchange Commission. The funding round is expected to blossom to $22 million in the coming weeks.
Elementum 3D is using its new equity financing to streamline operations, introduce new materials, and expand vertically. The funding will further solidify the company’s lead in the development and commercialization of high-performance advanced metals, alloys, composites, and other application specific materials in the additive manufacturing industry.
“We’ve been basically building data with these customers, where they’ve been basically testing it and trying it and seeing if it works,” Elementum founder and president Jacob Nuechterlein told BizWest. “We’ve had a number of customers who are now moving to production-scale projects. They’re moving from the R&D phase now to a production phase."
“We’re the ones who are providing really the only aerospace-grade aluminum that’s available,” he added."