Just lately, Velo3D obtained its largest order in firm historical past since its launch commercially in 2018. An present aerospace buyer positioned an order price $20 million for Velo3D’s modern, industrial steel additive manufacturing (AM) printers.
That is all of the extra outstanding as COVID-19 has hit investments and gross sales for companies throughout industries. Nonetheless, within the midst of the pandemic, Velo3D raised $40 million and elevated complete fundraising to $150 million until date.
Having obtained their largest order up to now, the corporate’s founder and CEO Benny Buller mentioned,
“This vital order validates that VELO3D’s SupportFree course of is production-ready. Our current successes throughout varied industrial sectors present that many OEMs and contract producers are adapting their provide chain to satisfy the calls for of producing mission-critical elements. Design freedom, agile manufacturing, and high quality assurance are necessities that VELO3D is uniquely positioned to satisfy.”
Not solely does the order validate the curiosity and willingness to undertake Velo3D’s options, nevertheless it additionally highlights the distinct benefits their steel printers usher in geometric freedom (largely help free, with proprietary recoating know-how), agile manufacturing, and high quality assurance by means of their patented SupportFree course of, pre-print software program Circulation, and Guarantee high quality assurance and management system.
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These benefits and a quickly rising buyer base in technically-demanding industries comparable to aerospace and oil & gasoline, have propelled Velo3D as a number one supplier of steel powder mattress fusion programs and options. We’ve lately mentioned the competitors it could face from companies comparable to ANSYS and Hexagon, when it comes to high quality management, and Desktop Steel, Xjet and Markforged, when it comes to potential ease of use and restricted post-processing.
Velo3D additionally drew consideration when it started supplying its steel AM printers to SpaceX, arguably the world’s main house firm within the non-public sector, to construct components for the subsequent era of starship engines. As well as, the corporate launched its new next-generation Sapphire steel additive manufacturing system earlier this April, which significantly addressed construct chamber dimension points, by means of being the world’s tallest steel laser-powder AM system with a closed chamber. The system will start to ship within the final quarter of this yr.
It will likely be attention-grabbing to see how opponents reply to Velo3D’s steel AM options which have addressed important help and post-processing points (overhangs lower than 5-10 levels, drastically decreased want for help constructions, bigger interior diameters potential), in addition to high quality and consistency points for important steel components that had been a problem with older PBF printers. With a bunch of latest traders offering funds and rising orders from key clients in technically demanding industries, Velo3D appears positioned to speed up and lead the PBF options market within the close to future.
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