The Israeli company Magnus Metal has raised 74 million US dollars in a Series B financing round. The investment round was led by Entrée Capital and Target Global, with further participation from Caterpillar Ventures, Tal Ventures, Deep Insight Ventures, Awz Ventures, Lumir Ventures, Discount Capital, Lip Ventures, Cresson Management, Next Gear Fund and Essentia Venture Capital.
Magnus Metal is developing a digital casting technology as an Industry 4.0 solution for the production of metal parts. The so-called “digital casting” combines the advantages of 3D printing with the traditional casting process, but avoids typical disadvantages. It enables a lean, digitalized supply chain and decentralized production without a traditional foundry infrastructure.
“Our technology is at the forefront of the digital casting revolution, driving transformations in sustainability, design flexibility and massively shortened development times,” explained Magnus CEO Boaz Vinogradov. “We are preserving 4000 years of tradition while redesigning the production process for modern purposes.”
Magnus Metal’s data-driven process leads to significant efficiency gains – with 40-60% less raw material required, lower costs and environmental impact. By eliminating traditional tooling, the lead time is reduced by 6-18 weeks. The manufactured parts also have 10-20% higher strength with a lower error rate.
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