AREVO Announces $7M Series A Funding Round Led by Khosla Ventures
Innovator in 3D Printing of Lightweight and Ultra Strong Composite Parts for Industrial and Consumer Applications
Santa Clara, CA - June 27, 2016 - AREVO, the first company addressing 3D printing of composite materials for production applications, announced a $7M Series A funding round led by Khosla Ventures. Coincident with the investment, Vijit Sabnis from Khosla Ventures will join the AREVO Board of Directors.
AREVO recently won the Autodesk REAL Deal Start Up competition and has introduced 3D printing industry innovations such as a first-of-its-kind multi-axis robotic additive manufacturing platform, composite material with five times the strength of titanium, and cloud-based software optimizing fiber placement in true 3D orientations to derive the highest strength-to-weight ratio.
"We are pleased to continue our momentum with this important investment round led by Khosla Ventures," said Hemant Bheda, CEO and Founder of AREVO. "Our 3D printing technology and software suites will lead to higher quality parts in the aerospace, medical, and automotive industries. This funding will enable us to meet our near-term product development objectives, which will be announced later this year."
"We at Khosla Ventures have been impressed by Hemants team and the vision put forth by AREVO, which we feel offers disruptive technology to 3D print production parts with unique characteristics, achieving a performance that cannot be matched using any conventional method or other additive manufacturing technique," said Vinod Khosla, the Founder of Khosla Ventures.
About AREVO
AREVO, (www.arevolabs.com) based in Silicon Valley, California, develops technology to enable direct digital additive manufacturing of ultra strong composite parts for end-use applications. AREVOs technology consists of advanced composite materials, deposition technology and software algorithms to optimize mechanical properties of printed parts. AREVO offers additive manufacturing services to OEMs worldwide.
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