Boeing, through its investment subsidiary HorizonX Ventures, participated in the $ 12.9 million Series B round of funding from Digital Alloys, a Massachusetts-based additive manufacturing company.
Digital Alloys’ Joule printing technology can quickly combine multiple metals in each part to improve thermal, electrical, magnetic and mechanical properties. The process allows metals such as titanium and alloys to be 3D printed at high temperature for parts that could be used on Boeing products.
“Our investment in Digital Alloys will help Boeing produce metallic structural aerospace parts faster and at higher volume than ever before,” said Brian Schettler, Managing Director of Boeing HorizonX Ventures. “By investing in companies with emerging additive manufacturing technologies, we aim to strengthen Boeing’s expertise and accelerate the design and manufacture of 3D printed parts to transform production systems and products. “
It is at least the fourth 3D printing startup that Boeing is supporting this year via HorizonX, after Assembrix, Morf3D and Oerlikon.
Trained in january 2017, Digital Alloys’ patented printing approach aims to reduce costs and time compared to powder-based systems and offers higher resolution than other wire-based 3D printing techniques.
“Partnering with Boeing will make us a smarter and stronger company,” said Duncan McCallum, CEO of Digital Alloys. “We are committed to enabling Boeing and other leading manufacturers to create new, valuable products quickly and affordably by incorporating metal 3D printing into their production. “
Additive manufacturing generates value for Boeing by reducing the costs and time required to design, manufacture and deliver products. Boeing currently has more than 60,000 3D printed parts flying on space, commercial and defense products.
The Series B funding round in which Boeing HorizonX Ventures participated was led by G20 Ventures, with additional participation from Lincoln Electric and Khosla Ventures.