Wayland Additive Limited today announces the completion of a £4.6 million funding round, supported by existing investors Longwall Ventures, Parkwalk Advisors and ACF Investors. Strategic investor Metrea Discovery joins as a new backer. Wayland is a West Yorkshire company developing electron beam 3D printing technologies that work faster and more accurately than laser-based technologies.
The company manufactures and sells Calibur3 metal additive manufacturing machines to end users requiring high-precision, complex components in fields such as aerospace, mining and medical. The Calibur3 uses the Neubeam® process, which offers advantages of electron beam technology and overcomes previous problems. Wayland’s customers include the RAF (UK) and Exergy Solutions (Canada). Shipments to North America, Europe and beyond will begin in May.
Wayland’s machines enable customers to print highly specialized “super materials” such as the hardest steel or tungsten remotely and on demand. This prevents downtime due to spare parts shortages and allows companies to produce exactly what they need. Such materials, which can withstand high temperatures and wear, also enable the development of new technologies in a variety of industries.
Wayland benefits from Yorkshire’s strong heritage in metallurgy, a local supplier base and a talented workforce with expertise in manufacturing technology.
The funding will be used to expand internal production capacity and supply more machinery and materials to customers. Wayland is focused on mitigating supply chain issues and reducing the time between order and delivery. The investment will also go toward recruiting a COO and supporting further research and development.
Will Richardson, CEO Wayland Additive said: “Since our last funding round, we have formally launched our machines into the market and are already seeing considerable traction, with demand from across the globe. By providing bespoke additive manufacturing to our customers, we can play a pivotal role in streamlining their operations and give them the tools to unlock their potential, with high value components at the touch of a button. It’s great to have our existing investors continuing to support us as we grow, as well as new strategic investor Metrea. We are excited by the prospect of bringing our machines to businesses who need them around the world and this investment will supercharge that mission.”
Tim Mills, Managing Partner at ACF Investors commented: “Wayland continues to move from strength to strength and is a leading light of Yorkshire’s business community. Through its machines, Wayland is pioneering the next generation of additive manufacturing, opening up new applications and unlocking new materials. We are delighted to be continuing to support this ingenious team on the next stage of their growth journey. Their leadership in the market is well earned.”
David Denny, Partner at Longwall Ventures added: “We are delighted to continue supporting the Wayland team – their ingenuity and hard work has resulted in a great product. The Wayland product enables customers to 3D print objects in materials that were not previously possible, and it is great to see this technology now being used by customers. We also appreciate having ACF Investors as co-investors because they have been pragmatic and supportive from day one.”
Find out more about Wayland Additive at waylandadditive.com.