United Kingdom company Additive Manufacturing Technologies raised a further £2.5m after announcing a partnership with NPIF – Mercia Equity Finance. This financial consortium, which is managed by Mercia, is part of the Northern Powerhouse Investment Fund. It includes partners like Foresight Williams Technology; the government’s Future Fund; DSM Venturing, the global start-up investment arm of Royal DSM; and private investors.
The latest funding round brings the total raised by the company to over £7 million and follows its recent success forming a partnership with the HP. AMT’s technology has been positioned as a preferred post-processing solution alongside the company’s range of industrial 3D printers.
AMT’s PostPro technology is a patented, fully automated surface finishing solution for 3D printed parts. It replaces the manual post-processing steps that can account for 30% of a part’s cost. AMT’s solutions make 3D printing a viable manufacturing technology at scale.
The company, which doubled its revenue year-on-year in 2020, was founded in 2017 by Joseph Crabtree. Its success is based on technology developed at the University of Sheffield. AMT now employs over 80 staff at its headquarters in Sheffield, its manufacturing facility in Hungary, and offices in Texas.
AMT secured a £750,000 investment from NPIF in February 2019 and a further £4.2m later in the year, in a series A funding round led by DSM Venturing and Foresight Williams Technology EIS Fund. The latest investment will allow it to continue its growth and product development plans.
Joseph Crabtree, CEO of AMT, said: “Our mission is to be the world’s first-choice application centric provider of end-to-end industrialized automated post-processing systems. This latest investment will help us to unlock the full potential of industrial additive manufacturing and its sustainable impact.”
Nigel Owens of Mercia said: “AMT’s technology is accelerating the adoption of 3D printing and transforming manufacturing in many industries. The company has gone from strength to strength and the recent HP partnership deal is another major milestone, as it represents acceptance of its technology at the highest level. This latest funding is allowing AMT to capitalise on its successes and continue its rapid growth.”
The Northern Powerhouse Investment Fund project is supported financially by the European Union using funding from the European Regional Development Fund (ERDF) as part of the European Structural and Investment Funds Growth Programme 2014-2020 and the European Investment Bank.