- Huddersfield-based Wayland Additive announces a £4.2m million fund raise to enable continued growth of global customer base
- The company provides electron beam 3D printing technology with its Calibur3 metal additive manufacturing (AM) machines, and will use funding to increase in-house production capability
- Funding round was led by UK’s leading spinout investor, Parkwalk Advisors which has supported the company since 2021
Wayland Additive, the electron beam 3D printing metal additive specialist, has today announced it has successfully secured £4.2 million in funding to expand operations following a successful year of operations.
A Huddersfield-based company, Wayland design, develop, make and sell industrial 3D printing machines. This latest funding round, led by the UK’s leading investor into university spinouts, Parkwalk Advisors, will enable the company to expand its manufacturing capabilities, further scaling up its operations in an industry-significant move.
Wayland provides electron beam, 3D printing technology using Calibur3 metal additive manufacturing (AM) machines and will use the funding to improve in-house production capability.
The company was born out of a high precision engineering team with a long and distinguished pedigree in the engineering industry, with links to the University of Sheffield’s internationally renowned Department of Materials Science and Engineering.
The benefits of metal AM allow for the creation of geometrically complex and innovative products, which can offer higher productivity, unparalleled process monitoring and control, and versatility in materials.
It comes after Wayland Additive have successfully rolled out their technology to a range of buyers across different sectors, including aerospace, mining, engineering, medical, motorsport and military and defence. Customers include Exergy Solutions in Canada, and a recent installation in Europe. The company’s operations currently take place across North America and Europe, and this latest fund raise will allow Wayland to continue to expand its growing global customer base.
Will Richardson, CEO of Wayland, said:
“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. 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 election beam printing technology.”
Parkwalk Advisors, which has supported Wayland since 2021, invested £2 million as part of this round, which also included long-term backer Longwell Ventures with a total of £4.2m already raised in the round. This current funding round will remain open, with a target of £10 million. It follows a £4.6 million oversubscribed Series A funding Round in April 2023, building on previous funding successes.
Martin Glen, Investment Director of Parkwalk Advisors, said:
“We are proud to be playing a leading role in growing Wayland Additive as it continues its journey to scale up its operations. 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. We’re excited to see the company grow further.”