3D printing company AMT receives £4.2 million from Foresight Williams Technology EIS Fund and DSM Venturing
• AMT is an innovative 3D printing company transforming post-processing technologies.
• This is the thirteenth investment made by the Foresight Williams Technology EIS Fund .
• The £4.2 million investment round was led by DSM Venturing, the venture capital arm of Royal DSM, alongside Foresight Williams Technology EIS Fund
London, 22nd October 2019: Foresight Group LLP (“Foresight”) has made its thirteenth investment from the Foresight Williams Technology EIS Fund (“the Fund”) into Additive Manufacturing Technologies Limited (“AMT” or “the Company”), a developer of technology designed to unlock the potential of industrial additive manufacturing (“3D printing” or “AM”). The investment is part of a £4.2 million round led by DSM Venturing.
Sheffield-based AMT was founded in 2017 by CEO Joseph Crabtree. It was set up with the aim of developing industrial technologies to enable the deployment of 3D printing for mass production, especially to address the shortcomings of existing post-processing technologies.
AMT’s first product, PostPro3D, is based on the BLAST (Boundary Layer Automated Smoothing Technology) process that was initially developed at the University of Sheffield. Since launch, the Company has secured contracts with several blue-chip companies.
The global 3D printing market is in a period of rapid international expansion and is expected to grow to $24 billion by 2025, at a compound annual growth rate of more than 16.5%. AMT is well-placed to capitalise on this expansion with its innovative product offering comprising four technologies: depowdering, smoothing, colouring and inspection/metrology. Together, these technologies can be combined to offer a fully automated end-to-end post-processing solution.
The investment will be used to accelerate sales and deliver a commercial version of its fully integrated Digital Manufacturing System. The expansion will also allow the Company to better serve its ever-growing pipeline of prospective customers.
Commenting on the investment, Andrew Bloxam, Senior Investment Manager at Foresight, said: “AMT has been quietly executing at an incredible pace since launching three years ago and is now delivering exceptional products that solve real-world industrial additive manufacturing needs. Joseph and his team are focused on continued product innovation and we believe the best is yet to come for AMT and its customers.”
Matthew Burke, Head of Technology Ventures, Williams Advanced Engineering, added: “Additive manufacturing is a key part of our Formula One and Advanced Engineering operations and we are looking forward to working with AMT to maximise the potential of their post-processing technologies.”
Joseph Crabtree, CEO of AMT, commented: “We are delighted to announce our Series A funding round with DSM Venturing and Foresight Williams Technology EIS Fund. The investment places AMT in pole position to be able to complete the polymer to part ecosystem and unlock industrial additive manufacturing at scale.
DSM’s materials expertise and application knowledge combined with Williams Advanced Engineering’s Formula One derived engineering provenance, add significant value to AMT and our customer value proposition.
The investment affirms the unrelenting hard work and commitment AMT has channelled into developing technology solutions for automating the additive manufacturing post-processing chain and we look forward to scaling AMT into the world leader in automated post-processing technology.”