Wayland Additive, a Huddersfield-based startup, has raised £4.2m to expand its electron beam 3D printing manufacturing business.
Wayland Additive designs, develops and sells industrial 3D printing machines for markets including aerospace, mining, medicine, motorsports and defence.
Wayland Additive claims its electron beam 3D printers, called Calibur3, can create geometrically complex products.
The company operates in Europe and North America and is targeting further global expansion off the back of the new funding. The fresh funds will also go towards increasing the startup’s in-house production capability.
“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,” said CEO Will Richardson.
“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 funding round was led by Parkwalk Advisors with additional funds from Longwell Ventures.
“Wayland is a prime example of a university spinout driving real positive change by deploying unique, cutting-edge technology to a range of sectors and challenges,” said Parkwalk Advisors investment director Martin Glen.
The round has already secured £4.2m, however, it remains open with a target of £10m, following the company’s £4.6m Series A in April 2023.
Founded in 2019, Wayland Additive has previously received funding from Innovate UK, ACF Investors and Metrea Discovery.