The British company Evolution AM Holdings, parent company of Evo 3D and Rapid Fusion, has received a growth loan of 400,000 pounds from the British Business Bank’s South West Investment Fund. The funding is specifically intended to support the market launch of “Medusa”, a new large-format 3D printing solution. The funds will be used for research and development, sales, marketing and the creation of new jobs.
Evo 3D distributes large-format additive manufacturing systems, while Rapid Fusion produces in-house developed solutions as an OEM. Both companies were founded in 2021 and 2023 respectively and have been able to establish themselves in the growing market despite strong competition. According to its own statements, the group of companies is aiming to increase its turnover to around six million pounds in the next three years. The 3D printing market, estimated at around 20 billion US dollars in 2023, is forecast to grow to over 100 billion by 2032. Drivers include applications in aviation, the automotive industry and energy technology.
Jake Hand, Group Managing Director at Evolution AM which is based at Skypark on the edge of Exeter, said: “This South West Investment Fund loan is helping us bring Medusa to market, a product we believe will redefine standards in the 3D printing sector. Our experienced team is dedicated to pushing the boundaries of innovation and technology, ensuring that we can be leaders in this vibrant industry and we’re delighted to work with the team at FSE as we scale for further growth.”
Rob Ward, FSE Investment Manager for the deal, commented: “We are thrilled to fund this young and dynamic business as it continues to leverage its strengths, which include a strong track-record of sales, a robust R&D pipeline, and fully owned intellectual property. The commitment to innovation and strategic approach to growth makes Evolution AM an ideal portfolio addition and we look forward to seeing their continued success in the 3D printing space.”
The technology is aimed at industrial users who require large-format components with high efficiency and material flexibility. Specific technical details of the new machine have not yet been released, but the company points to a strong IP background and its own R&D infrastructure.
Paul Jones, Senior Investment Manager at the British Business Bank, said:
“The South West Investment Fund is here to unlock the potential of ambitious businesses across the region, and Evolution AM is a great example of that. Their innovation in 3D printing, especially with the launch of Medusa, demonstrates the kind of cutting-edge technology being developed right here in the South West. We’re proud to support their journey as they scale, create skilled jobs, and push the boundaries of what’s possible in additive manufacturing.”
The South West Investment Fund aims to strengthen growth-oriented companies and facilitate access to early-stage financing – a need that remains particularly high in the technology sector.
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