Wayland Additive Limited, Huddersfield, UK, has raised £3
million in its Series A funding round, led by Longwall Ventures with the Angel
CoFund (ACF), among other investors. The Electron Beam Additive Manufacturing
company is reportedly developing EB-based systems capable of building parts
faster and with greater precision than laser-based technologies, and is thought
to be targeting end-users in industries such as aerospace and medical.
Wayland Additive’s technology is reported to be built on
highly sophisticated developments in scanning electron microscopy (SEM) and
electron beam lithography, and is expected to offer very high levels of
productivity, material versatility, process monitoring and control. The company
has acquired IP from Reliance Precision Limited, Huddersfield, which has
developed AM technologies over the past three years.
The funds raised in this Series A funding round are expected
to enable Wayland Additive to develop its advances in metal Additive Manufacturing
from an advanced prototype to a launch product. The company plans to begin
machine shipments in 2021.
David Denny, Partner at Longwall Ventures, commented, “We
are delighted to be backing a strong team with technology that integrates
process control with 3D printing – the critical piece that enables EBM to
become a statistically capable manufacturing method.”