Holo, a California-based manufacturing startup, has announced the raising of an undisclosed amount in Series B funding to revolutionize the manufacturing metal parts industry.
The funding round counted with participation from new investors Lam Capital and Atreides Management, as well as existing investors Prelude Ventures, Tao Capital Partners, and Lightspeed Venture Partners. The total funding raised by the startup since being founded in 2017 is unknown but has allowed it to experience fast growth over the past years. Faran Nouri, managing director at Lam Capital, referred to the firm’s participation by stating:
“We believe Holo’s approach to metal additive manufacturing has great potential. Additive manufacturing is an important part of our development and innovation strategy and this funding aligns with Lam Capital’s mission to invest in forward-thinking companies that can help address today’s most challenging problems.”
The new funding will be used by Holo to accelerate its growth plans for the next 2 years, doubling the size of the startup and boosting the development of its high throughput production system, as well as expanding its material portfolio. Holo’s PureForm solution launched earlier this year, allowing its customer to improve the production of high-performance pure copper parts.
The startup was co-founded by multiple Autodesk employees back in 2017, combining over 75 years of experience and focusing them on the lowering of adoption barriers of additive manufacturing for volume production. Mark Cupta, a managing partner at Prelude Ventures, referred to the continued support of the firm by stating:
“In a short period of time, Holo has developed the highest quality and most cost effective AM technology for volume production. Prelude has been on board since the very beginning and we are continually impressed by the business Holo is creating.”
The manufacturing startup is looking to become a leader in the additive manufacturing industry by using the latest advancements in hardware, material science, software, and product design to supply the increasing demand for more effective and cost-effective solutions.