Foundation Alloy Raises $10.5 Million To Further Its Mission To Leverage Materials Technology To Produce Higher Performance Metal Parts With Less Energy
Foundation Alloy Raises $10.5 Million To Further Its Mission To Leverage Materials Technology To Produce Higher Performance Metal Parts With Less Energy
06/01/22, 12:00 PM
Location
cambridgeMoney raised
$10.5 million
Foundation Alloy, a vertically integrated metal part production platform, today announced a $10 million investment co-led by The Engine, the venture firm spun out of MIT that invests in early-stage Tough Tech companies, and Material Impact. Safar Partners also participated in the round. The funding will fuel Foundation Alloy’s plans to commercialize its integrated approach to part production, enabling flexible production of high performance parts while reducing manufacturing time, waste and energy. Specifically, the capital will go toward a pilot facility to validate and demonstrate the company’s technology and value to customers
Company Info
Location
cambridge, maryland, united states
Additional Info
Foundation Alloy integrates proprietary alloy design technology from MIT and UC Irvine, advanced manufacturing and automation to recast the metal parts manufacturing industry. FA metals can be fabricated with less time, less energy, and better outcomes than legacy materials, and have superior mechanical properties than the current state of the art. By focusing on scalable, quality advanced manufacturing, FA will provide the performance and production efficiency, flexibility & reliability necessary to unlock the next generations of industrial products. To learn more reach out to: connect@foundationalloy.com