Additive Assurance successfully raises $4.1m as it moves to next growth phase
Additive Assurance, a leader in quality assurance for additive manufacturing, today announced the successful completion of a $4.1m funding round as it pushes forward with its international expansion plan.
The round was led by Significant Capital Ventures (SCV) and supported by Hostplus alongside existing shareholders IP Group Australia and Monash Investment Holdings.
The new investment will support growth initiatives, including the establishment of an Additive Manufacturing quality assurance centre of excellence at its Melbourne headquarters, and the expansion of research and development and international business development teams.
Additive Assurance has developed AMiRIS, a world-leading solution for quality assurance of 3D-printed metal parts, based on technology originally developed at Monash University. AMiRIS allows manufacturers to ensure the structural integrity of components as they are being made and correct any anomalies when they occur.
Additive Assurance is working with leading global customers in the aerospace and advanced manufacturing industries to enable the use of 3D-printed parts in serial production.
“We are delighted to receive the support of SCV and existing investors to underpin our continued expansion,” said Marten Jurg, co-founder and CEO of Additive Assurance (standing left in the above image). “This investment further validates the transformative growth opportunity presented by additive manufacturing, our technological advantage in providing quality assurance, and our continued market momentum.”
“The team at Additive Assurance is bringing an exceptional technology innovation to market and solving a critical pain point for high-value additive manufacturing,” added Fiona Hindmarsh, CEO of SCV. “In a world where supply chain control and quality is going to become increasingly important, Additive Assurance has the opportunity to be adopted on a global scale, reducing time, cost and waste across the industry value chain.”
Michael Molinari, Managing Director of IP Group Australia, said: “Additive Assurance is making great progress on its mission to ensure additive manufacturing is accessible to users everywhere. We are proud to continue supporting Marten and the team as they build a world-leading advanced manufacturing business in Australia.”
Additive Assurance is a specialist in quality assurance for metal additive manufacturing. As the culmination of many years of research, the technology was spun out of Monash University in 2019 by co-founders Marten Jurg and Andrey Molotnikov (L-R see above image). The unique method of quality assurance for additive manufacturing is being rolled out across multiple industries, including aerospace, medical devices, energy, and defence. See www.additiveassurance.com for more information.