Burlington-based digital aluminum manufacturing firm, Alloy Enterprises, has secured $26 million in Series A funding, bringing its total raised capital to $37 million.
The funding round was led by Piva Capital, with participation from new investors Unless, Flybridge Capital, MassMutual Catalyst Fund, Robert Downey Jr.’s Footprint Coalition, and existing investors Congruent Ventures and Riot Ventures. The company plans to allocate these funds to expand its operations and extend its business reach.
Under the leadership of CEO Ali Forsyth, Alloy Enterprises employs an innovative manufacturing technique that streamlines large-scale aluminum parts production without the use of aluminum powder. The company utilizes a combination of laser cutting and diffusion bonding, allowing it to maintain the benefits of 3D printing, such as reduced lead times, swift design iterations, elimination of costly tooling, and inventory digitization, while generating high production volumes via its machines.
Alloy Enterprises is set to begin delivering production volume parts this summer, and is currently evaluating and qualifying new customer applications, with the capability to undertake large-scale production. The Series A funding will play a crucial role in bolstering Alloy’s position in the digital aluminum manufacturing sector and help bring their innovative technology to a broader market.
