Uniformity Labs (UL) completed an impressive $38.35 million Series B financing round to further develop and grow its holistic approach to metal additive manufacturing. The Californian company is an additive manufacturing (AM) parts, printing, and metal feedstock producer that has pioneered refining and printing processes to enhance the 3D printing value proposition.
In this latest round, existing investors were joined by new investment from financial and strategic investors.
“This marks a significant milestone in our next phase of growth as we scale our game-changing metal feedstock and print applications businesses to greatly improve the 3D printing value proposition for major manufacturers,” said Adam Hopkins, founder and CEO of Uniformity Labs. “What’s important about this round is the level of commitment from new financial and strategic industry investors, which stands as an important endorsement of our technology and business model.”
The proceeds of this round of funding will predominantly drive the expansion of its production capability and the development of additional specialized materials. It will also fuel the growth of the senior team, particularly in the sales and marketing function – a process that will ramp up substantially over the course of 2021.
“As its founding investor, IP Group is excited to see Uniformity Labs poised to disrupt the AM market. Adam Hopkins and his team have done a tremendous job developing the core technology created in Professor Sal Torquato’s labs at Princeton University to unlock the potential of powder-based manufacturing. UL is an excellent example of our focus on supporting the commercial development of innovative hard science from premier research institutions like Princeton,” said Michael Burychka, CEO of IP Group, Inc.
The Series B round included an investment to finance plant construction from a fund managed by Orion Resource Partners, a global alternative investment management firm with approximately $6.3 billion under management. Orion is one of the world’s leading investors in the mining, metals processing, and metal commodity trading industries.
“Orion is pleased to make its first investment into the additive manufacturing and metals atomization industries through Uniformity Labs. We look forward to supporting their growth within this rapidly evolving industry,” said Oskar Lewnowski, the Chief Investment Officer of Orion Resource Partners.
Uniformity Labs’ patented technology enables significant cost savings, speed, and quality improvements across all mainstream AM printers. Uniformity’s feedstock materials and print processes have been optimized in terms of speed, quality, reliability, and efficiency of printing, and by improving printing economics.
Armory Securities acted as exclusive financial advisor and placement agent for UL for the Series B round. Mercator Partners, an asset manager located in Princeton, NJ, helped arrange and close the financing.