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AMT, UK-based 3D print company raises £2.5M to lead the global market

AMT

UK-based 3D print company, Additive Manufacturing Technologies (AMT) has raised £2.5 million funding to become a world leader in the 3D printing industry. 

The funding was led by NPIF – Mercia Equity Finance, which is managed by Mercia and part of the Northern Powerhouse Investment Fund; Foresight Williams Technology; the government’s Future Fund; DSM Venturing, the global startup investment arm of Royal DSM; and private investors.

In February 2019, AMT secured funding of £750,000 from NPIF and later further £4.2 million in the year by DSM Venturing and Foresight Williams Technology EIS Fund in Series A round. Including the last raised funding, AMT totaled the funding of over £7 million to the date.

Partnership with HP

The Sheffield-based, AMT has also partnered with HP to position its equipment as post-processing solutions apace with HP’s industrial 3D printers range.

The post-production technology of AMT automates the surface-cleaning process for 3D printed parts. The company focuses on reducing the cost of 3D printed parts as well as making them viable for mass-production.

AMT was founded in 2017 by Joseph Crabtree by using technology developed at the University of Sheffield, now doubled year-on-year revenue in 2020. The Sheffield headquarters based, AMT employs 80 staff with manufacturing facilities in Hungary and offices in Texas.

Joseph Crabtree, CEO of AMT, said: “Our mission is to be the world’s first-choice application-centric provider of end-to-end industrialized automated post-processing systems. This latest investment will help us to unlock the full potential of industrial additive manufacturing and its sustainable impact.”

Nigel Owens of Mercia said: “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. This latest funding is allowing AMT to capitalise on its successes and continue its rapid growth.”

Ken Cooper at British Business Bank said: “This investment demonstrates how NPIF is able to support high-growth businesses in the North like AMT and unlock additional capital from other investors. As the economy starts to recover we anticipate that the demand for equity finance will increase across the north and we are pleased that NPIF will be able to support more innovative, growing companies like AMT.”

The Northern Powerhouse Investment Fund project is supported financially by the European Union using funding from the European Regional Development Fund (ERDF) as part of the European Structural and Investment Funds Growth Programme 2014-2020 and the European Investment Bank.