A San Francisco-based startup, Divergent 3D, plans to disrupt automotive manufacturing and has raised $23 million in a Series, a funding round led by technology venture capital fund Horizons Ventures.
The funding will be utilized by the company to commercialize its manufacturing platform that makes use of 3D printing in order to manufacture the chassis of an automobile. 3D printed joints called a Node, which has the ability to connect with carbon fiber structural materials to produce a strong and light chassis, are created by the platform.
The platform has been aimed to decrease the cost, time-to-market, and environmental impact of building cars, trucks, and SUVs. A 3D printed supercar named ‘Blade’ was created by the company in 2015 to exhibit its technology platform. Blade has been making the rounds, showing up at the LA Auto Show and the annual consumer electronics show (CES).
A global automotive and aerospace engineering services provider, Altran, also invested in this round. As per Divergent 3D CEO Kevin Czinger, the investment is going to assist Divergent 3D to carry on its momentum and provide it the capital and access to relationships it requires to bring its technology to as many automakers as possible, particularly in China. He also said, “The time has come for a new model of decentralized car production that fosters pioneering car designs and lowers costs while alleviating environmental damage.”
The manufacturing platform of the company intends to make designing and manufacturing of new cars easier and faster at a fraction of the cost whilst decreasing the environmental effect that conventional factories have.
According to Divergent 3D, 3D printing can not only reduce the capital investment and production costs, but it will also assist in manufacturing vehicle structures that are more than 50% lighter and require less fuel to drive.
This most recent broadcast follows Divergent 3D’s development partnership with Altran and a strategic agreement with French automaker PSA.
A strategic collaboration with Divergent 3D was declared by PSA in September, which produces Peugeot, Citroen and DS car, in order to produce vehicle structures using the startup’s manufacturing platform.
This strategic partnership might help reduce the size of the company’s manufacturing footprint, a step that may perhaps result in lighter, more profitable vehicles.