Alloy Enterprises receives $26 million in Series A funding

Alloy Enterprises, a provider of additively manufactured metal parts, has raised $26 million in a Series A funding round.

Using an innovative manufacturing process, Alloy is bridging the gap between supply and demand for complex aluminum components created by the growing demand in e-mobility and the focus on more sustainable materials. Despite the advantages of aluminum – it is infinitely recyclable and has an excellent strength-to-weight ratio compared to steel – traditional foundries cannot keep up with the pace of innovation.

The company is serving that gap with a fast, cost-effective manufacturing process that streamlines the production of aluminum parts in the United States. Alloy’s process was developed specifically for aluminum and combines laser cutting and diffusion bonding to take advantage of 3D printing’s benefits, such as shorter lead times and rapid iteration of designs.

“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. “This is a breakthrough for the industry that addresses the need for reasonable lead times, major cost reductions, and on-demand manufacturing, delivering direct benefits to EV, industrial and heavy equipment. We have been so impressed with the Alloy team and look forward to partnering with them to help them scale as the need for their solution ramps up.”

“Alloy is poised to transform key industries at a critical time for companies concerned with building more resilient supply chains and reducing their carbon footprint,” said Liz Reynolds, Partner at Unless and Former Special Assistant to the President for Manufacturing at the National Economic Council. “We are at the beginning of an industrial transformation in which the country is reindustrializing. Alloy’s unique technology will help companies accelerate through this transformation.”

“We have an incredible team with the ability to continuously solve hard R&D challenges while staying focused on the customers’ needs,” said Ali Forsyth, CEO Alloy Enterprises. “We went from invention to commercial sales in less than two years. With this sizeable fundraise, we’ve added great partners to the table to help us take Alloy to the next level.”

Forsyth continued, “We’ve made rapid progress and have garnered Fortune 100 manufacturing customers in three major market verticals: automotive, industrial, and heavy equipment. We’ve proven our manufacturing process and are already qualifying customer production parts. We will use this funding to ramp production capacity, further develop our software suite, and apply next-gen automation. We’re open for business and scaling rapidly, including hiring across the board in sales, marketing, applications, software, operations, and manufacturing.”

Find out more about Alloy Enterprises at alloyenterprises.co.