Funding

[Funding alert] Wayland Additive Secures £4.2Million in Funding

Jan 24, 2024 | By Startup Rise EU

Wayland Additive secures £4.2million in funding to support its ongoing expansion into new international markets.

Wayland Additive secures £4.2million in funding to support its ongoing expansion into new international markets.

Wayland is a Huddersfield-based company that uses state-of-the-art electron beam 3D printing technology to design, develop, manufacture, and split industrial Calibur3 metal additive manufacturing equipment.

Reda also - Paris-based Kiln Secures $17m in Funding

The construction of geometrically complicated and novel goods is made feasible by metal additive manufacturing, which can lead to increased productivity, unmatched process monitoring and control, and material variety.

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The internationally renowned Department of Materials Science and Engineering at the University of Sheffield is home to a high-precision engineering team that gave birth to the company.

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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."

The £10 million goal of this current investment cycle will remain unmet. Building on prior financial achievements, it comes after a £4.6 million oversubscribed Series A investment Round in April 2023.

Read also - Barcelona-based TravelPerk Secures €95 Million in Funding

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."

About Wayland Additive Limited

Wayland Additive Limited is a West Yorkshire-based startup that is developing electron beam 3D printing technology to new heights. Wayland's objective is to design, produce, and market metal Additive Manufacturing ("AM" – 3D printing) devices to industrial end users, including significant players in the medical and aerospace sectors.

Read also - Stuttgart-based Instagrid Secures €87 Million in Series C Round Funding

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