Tech investors remain optimistic about revolutionizing the manufacturing process to match the efficiency of software development. Freeform, an innovative startup specializing in a unique 3D printing system for metal components, has successfully raised $67 million in Series B funding to further develop its manufacturing capabilities.
Prominent investors in this round include Apandion, AE Ventures, Founders Fund, Linse Capital, NVidia's NVentures, Threshold Ventures, and Two Sigma Ventures. Although Freeform has chosen not to disclose its post-financing valuation, Pitchbook estimates it at approximately $179 million.
According to CEO and co-founder Erik Palitsch, these funds will facilitate an upgrade of their existing GoldenEye printing system, which currently employs 18 lasers to fuse metal powders into precise components. The forthcoming version, named Skyfall, aims to utilize hundreds of lasers, significantly increasing production capacity to thousands of kilograms of metal parts daily.
This initiative is the realization of a vision that Palitsch and co-founder Thomas Ronacher conceived in 2018. The duo, who previously collaborated on rocket engines at SpaceX, identified that existing industrial metal printing machines were often costly, temperamental, and poorly suited for large-scale manufacturing.
Freeform's platform is designed from the ground up to enhance throughput and flexibility, with a strong focus on advanced software controls. Palitsch emphasized that Freeform's platform is "AI native," highlighting a partnership with Nvidia that grants access to cutting-edge GPUs.
"We believe we are one of the few manufacturing companies with H200 clusters operating in a data center on-site," Palitsch remarked. "This allows us to conduct real-time physics-based simulations, optimizing every aspect of our manufacturing workflow."
The data gathered from sensors within the manufacturing system and during simulations enables Freeform to swiftly enhance both production quality and volume. "We possess more comprehensive data on the physics of the metal-printing process than any other company globally," stated Cameron Kay, head of talent.
While specific customer details remain confidential, Palitsch confirmed that Freeform is already delivering hundreds of essential components to clients. The company plans to expand its workforce by hiring up to 100 new employees and enhancing its facility to address its growing contract backlog.
The rise of manufacturing-as-a-service has attracted significant interest from venture investors, especially in sectors like vehicle production, robotics, and energy systems. For instance, Hadrian recently achieved a $1.6 billion valuation while developing automated production for defense, and companies like VulcanForms and Divergent have also secured substantial funding to advance their metal-printing technologies.