Magnus Metal Raises $74 Million in Series B Funding to Transform Metal Part Casting With its Revolutionary Digital Casting™ Technology
TEL AVIV, Israel, April 18, 2024 /PRNewswire/ -- Magnus Metal, a pioneering technology in industrial, high volume digital casting for metal alloys, today announced it has raised $74 million in Series B funding, co-led by Entrée Capital and Target Global with additional participation from Caterpillar Ventures, Tal Ventures, Deep Insight Ventures, Awz Ventures, Lumir Ventures, Discount Capital, Lip Ventures, Cresson Management, Next Gear Fund and Essentia Venture Capital. Magnus Metal will use the latest capital to further develop its innovative casting technologies, while expanding its operations locally and globally to support its Fortune 100 customers.
- Magnus Metal is the first and only additive manufacturing technology that uses the Customer's current metal raw material providing huge benefits in adoption rate.
- Magnus Metal addresses and alleviates the multiple burdens impacting metal manufacturing, enabling a more efficient and intuitive casting process with a more bespoke, sustainable final product.
- Magnus Metal is the only additive manufacturing company that meets the American Society for Testing and Materials standards for iron.
- Through Magnus Metal, the design-to-manufacturing cycle is shortened, raw materials are efficiently used and quality control is elevated – this is metal casting at the cutting edge.