A company “pushing the boundaries” with 3D printing technology has secured a £4.6 million investment in its latest funding round.
Lockwood-based Wayland Additive Ltd has announced backing from existing investors Longwall Ventures, Parkwalk Advisors and ACF Investors. Strategic investor Metrea Discovery joins the round as a new supporter of the business.
Wayland says it is “pushing the boundaries” of electron beam 3D printing with systems that can work faster – and with greater precision – than existing laser-based technologies.
Wayland, based at Park Valley Court in Meltham Road, manufactures and sells the Calibur3 metal additive manufacturing (‘AM’ – otherwise known as 3D printing) machines to customers who require high precision and complex components, often made from advanced metal alloys, in areas such as the aerospace, mining and medical industries.
Wayland’s customers include the RAF and Exergy Solutions with the next shipments starting in May to North America, Europe and beyond.
Wayland’s machines allow customers to print highly specialised ‘super materials’, like the world’s hardest steel or tungsten, remotely and on demand.
This eradicates the issue of downtime caused by spare part shortages, allowing organisations to create exactly what they need, in the right quantities and at the right time.
Wayland will use the latest funding to increase its in-house production capability to deliver more machines and materials to customers.
CEO Will Richardson said: “Since our last funding round, we have formally launched our machines into the market and are already seeing considerable traction, with demand from across the globe.
“By providing bespoke additive manufacturing to our customers, we can play a pivotal role in streamlining their operations and give them the tools to unlock their potential, with high value components at the touch of a button.
“It’s great to have our existing investors continuing to support us as we grow, as well as new strategic investor Metrea.
“We are excited by the prospect of bringing our machines to businesses who need them around the world and this investment will supercharge that mission.”
Tim Mills, managing partner at ACF Investors, added: “Wayland continues to move from strength to strength and is a leading light of Yorkshire’s business community.
“Through its machines, Wayland is pioneering the next generation of additive manufacturing, opening up new applications and unlocking new materials.”
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