UK additive manufacturing company Wayland Additive today announced a £4.2 million fundraise to enable continued growth of global customers.
A Huddersfield-based company, Wayland designs, develops, makes and sells industrial Calibur3 metal additive manufacturing machines, utilising cutting-edge electron beam 3D printing technology.
Metal additive manufacturing enables the creation of geometrically complex and innovative products, which can offer higher productivity, unparalleled process monitoring and control, and versatility in materials.
The company was born out of a high-precision engineering team with links to the University of Sheffield's internationally renowned Department of Materials Science and Engineering.
It has successfully rolled out its technology to various buyers across different sectors, including aerospace, mining, engineering, medical, motorsport and military and defence, with operations across North America and Europe.
Will Richardson, CEO of Wayland, said:
"Wayland has grown exponentially over the past year, with this latest raise representing a major milestone for our business as we continue to seek additional funding over the coming year.
After a successful 2023, we're setting our sights on further developing our in-house production capacity and increasing our global customer base to enable more sectors to benefit from our cutting-edge electron beam printing technology."
Parkwalk Advisors, which has supported Wayland since 2021, invested £2 million as part of this round, which also included long-term backer Longwell Ventures with a total of £4.2m already raised in the round.
This current funding round will remain open, with a target of £10 million. It follows a £4.6 million oversubscribed Series A funding Round in April 2023, building on previous funding successes.
Martin Glen, Investment Director of Parkwalk Advisors, said:
"We are proud to be play a leading role in growing Wayland Additive as it continues its journey to scale up its operations. Wayland is a prime example of a university spinout driving real positive change by deploying unique, cutting-edge technology to various sectors and challenges. We're excited to see the company grow further."
This latest fundraising will allow Wayland to continue to expand its growing global customer base.
Lead image: Wayland Additive. Photo: uncredited.