Alloy Enterprises Raises $26M to Unlock Aluminum Fabrication at Scale
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Wednesday, May 17, 2023
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BURLINGTON, Mass., May 17, 2023 /PRNewswire/ -- Alloy Enterprises, the world's first Digital Aluminum Fab, announces the completion of a $26 million oversubscribed Series A round led by Piva Capital and joined by new investors Unless, Flybridge Capital, MassMutual Catalyst Fund, Robert Downey Jr.'s Footprint Coalition, and existing investors Congruent Ventures and Riot Ventures. The funding brings the total raised to $37 million.
Key Points:
- Aluminum is infinitely recyclable; it has twice the strength-to-weight ratio of steel and is an incredible material for lightweighting.
- Alloy Enterprises is filling the void with a fast, cost-effective manufacturing method that streamlines the production of aluminum parts at scale here in the U.S.
- Its' unique solution is the first process specially designed for aluminum that does not use aluminum powder.
- "The Alloy team has proven out a highly efficient process for delivering aluminum components quickly and at scale," said Maria Buitron, Principal at Piva Capital.