Oxfordshire-based Alloyed, an advanced manufacturer of metallic components, has secured its place at the forefront of UK additive manufacturing following a successful fundraising round. A spinout from Oxford University in 2017, Alloyed’s recent Series B round, led by Japanese investors SPARX and the Development Bank of Japan, was oversubscribed and truly international. Other participants were Aviva Investors and German-based Future Industry Ventures, adding to existing investors JX Advanced Metals, and Anglo American plc, along with Oxford Science Enterprises, an investment company which has helped commercialise and boost capital flows to over 100 breakthrough Oxford science spinouts.
Alloyed specialises in designing and manufacturing advanced alloys, delivering high performance metallic components and platforms. The company is focused on automated design and manufacturing through additive manufacturing, also known as industrial-scale ‘3D printing’, which is able to combine many functions into one metal part.
Applications span a wide range of industries – including lightweight antennas and structural components for satellites, high-temperature-resistant alloys for jet engines, as well as precision parts for jewellery, wearables such as virtual reality headsets, and smartwatches. Its customers include Boeing, Microsoft, Anglo American and BMW.
Alloyed’s UK base in Abingdon is already home to one of the largest fleets of Additive Manufacturing machines in Europe. It also has advanced metallic component manufacturing facilities in Seattle, USA.
“Our mission is to harness our digital platforms to make metal components lighter, stronger, and more precise, all while reducing costs and maximising sustainability,” says Alloyed CEO Michael Holmes. “Automated design and manufacturing is an industry where the UK, with our expertise in materials science and world class engineering capability, has the potential to lead on the global stage and Alloyed is at the forefront of this transformation.”
Aviva has not only invested £6.6 million into Alloyed, but has put £15 million into Oxford Science Enterprises (OSE). Ben Luckett, managing director at Aviva Investors, says it is committed to supporting innovative high-growth science and technology companies in the Oxford-Cambridge growth corridor.
Image provided by Abingdon Business Park