Divergent 3D Closes $23M Series A Funding Round Led by Horizons
LOS ANGELES and HONG KONG–Divergent 3D, a technology development and licensing company focused on the automotive sector, recently closed a $23 million Series A funding round led by technology venture capital fund Horizons Ventures. Divergent 3D will apply the money toward commercializing a hardware-software platform that slashes the capital costs, time-to-market, and environmental impact of auto manufacturing. Divergent 3D's strategic partner, the automotive and aerospace engineering services provider Altran, also invested in the round, according to a press release from Divergent 3D.
The Divergent Manufacturing PlatformTM is reported to enable automakers to quickly design and build new cars at a fraction of the cost and environmental impact of those produced in traditional capital-intensive factories. According to Divergent 3D, the power of 3D printing helps lower capital investment and production costs while producing vehicle structures that are over 50 percent lighter and require less fuel to drive.
"Divergent 3D is honored to have earned the confidence of Horizons Ventures, a world leader in innovation that recognizes the damage being generated by automotive manufacturing in China and around the world," said Kevin Czinger, CEO of Divergent 3D, in the release. "The time has come for a new model of decentralized car production that fosters pioneering car designs and lowers costs while alleviating environmental damage."
The announcement follows the launch of a development and marketing partnership with global engineering firm Altran, and a strategic partnership with European automaker PSA Group (Peugeot, Citroen & DS) to build full vehicle structures using Divergent 3D's manufacturing platform.
Divergent 3D (www.divergent3d.com) offers an environmentally benign manufacturing approach that harnesses the power of 3D printing to unleash innovation in automotive manufacturing. Its approach is said to enable small- and high-volume manufacturing without costly tooling and capital expenses of the past, enabling manufacturers to quickly iterate and invent new models for competitive advantage.
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