Additive Manufacturing Technologies (AMT) has announced the raising of a further £2.5m taking the company’s total funding up to more than £7m.
The funding has been secured from NPIF – Mercia Equity Finance, which is managed by Mercia and part of the Northern Powerhouse Investment Fund; Foresight Williams Technology; the UK government’s Future Fund; DSM Venturing; and other private investors. NPIF Mercia Equity Finance was initially a contributor in AMT’s seed funding, while Foreign Williams Technology and DSM Venturing were part of a funding round that yielded $5.2m in October 2019.
AMT was founded in 2017 to commercialise technology developed at the University of Sheffield and has since brought to market a portfolio of automated surface finishing and depowdering platforms. Among its product offering are small-scale systems and post-processing stations with colour capability, while the company recently secured a partnership with HP that will see it offer a chemical vapour smoothing benchmarking service to current and prospective users of Multi Jet Fusion technology. The company now employs over 80 people across its Sheffield HQ, Hungary manufacturing facility and Texas offices, and managed to double its revenue year-on-year in 2020.
Seeking to further grow the company and build out its offering, AMT has successfully raised £2.5m from many of its existing backers.
“Our mission is to be the world’s first-choice application centric provider of end-to-end industrialised automated post-processing systems,” commented AMT founder and CEO Joseph Crabtree. “This latest investment will help us unlock the full potential of industrial additive manufacturing and its sustainable impact.”
“AMT’s technology is accelerating the adoption of 3D printing and transforming manufacturing in many industries. The company has gone from strength to strength and the recent HP partnership deal is another major milestone as it represents acceptance of its technology at the highest level,” added Mercia’s Nigel Owens. “This latest funding is allowing AMT to capitalise on its successes and continue its rapid growth.”
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