Wayland Additive, a Huddersfield-based startup, has raised £4.2 million to expand its electron beam 3D printing manufacturing business.
Wayland Additive designs, develops and sells industrial 3D printing machines for markets such as aerospace, mining, medical, motorsports and defense.
Wayland Additive claims its electron beam 3D printers, called Calibur3, can produce geometrically complex products.
The company operates in Europe and North America and is aiming for further global expansion with the new financing. The fresh funds will also flow into expanding the startup’s own production capacities.
“Wayland has grown exponentially over the past year, and this latest increase represents an important milestone for our company as we continue to seek additional funding in the coming year,” said CEO Will Richardson.
“After a successful 2023, we aim to further expand our own production capacity and expand our global customer base so that even more industries can benefit from our state-of-the-art electron beam printing technology.”
The funding round was led by Parkwalk Advisors with additional funding from Longwell Ventures.
“Wayland is a prime example of how a university spinout is driving real positive change by applying unique, cutting-edge technology across a range of sectors and challenges,” said Martin Glen, investment director at Parkwalk Advisors.
The funding round has already secured £4.2m, but remains open with a target of £10m after the company completes the £4.6m Series A in April 2023.
Wayland Additive was founded in 2019 and has previously received funding from Innovate UK, ACF Investors and Metrea Discovery.