Boeing invests in Digital Alloys’ 3D printing technology
Boeing, through its investment subsidiary HorizonX Ventures, participated in the $12.9 million series B funding round of Digital Alloys, a Massachusetts-based additive manufacturing company.
Digital Alloys’ Joule printing technology can rapidly combine multiple metals into each part to enhance thermal, electrical, magnetic and mechanical properties. The process allows metals such as titanium and high-temperature alloys to be 3D-printed for parts that could be used on Boeing products.
“Our investment in Digital Alloys will help Boeing produce metal structural aerospace parts faster and at higher volume than ever before,” said Brian Schettler, managing director of Boeing HorizonX Ventures. “By investing in companies with emerging additive manufacturing technologies, we aim to strengthen Boeing’s expertise and help accelerate the design and manufacture of 3D-printed parts to transform production systems and products.”
This is at least the fourth 3D-printing startup Boeing has supported this year through HorizonX, after Assembrix, Morf3D and Oerlikon.
Formed in January 2017, Digital Alloys’ patented printing approach aims for a cost and time reduction over powder-based systems and delivers higher resolution than other wire-based 3D-printing techniques.
“Partnering with Boeing will make us a smarter, stronger company,” said Digital Alloys CEO Duncan McCallum. “We are committed to enabling Boeing and other leading manufacturers to create valuable new products quickly and at less cost by incorporating metal 3D printing into their production.”
Additive manufacturing generates value for Boeing by reducing the cost and time needed to design, build and deliver products. Boeing currently has more than 60,000 3D-printed parts flying on space, commercial and defense products.
The series B funding round in which Boeing HorizonX Ventures participated was led by G20 Ventures, with additional participation by Lincoln Electric and Khosla Ventures.