SAN JOSE, Calif., Jan. 21, 2021 /PRNewswire-PRWeb/ -- KeraCel, the leading innovator in multi-material multi-method (4M) additive manufacturing (AM) that will lead the digital transformation of manufacturing, today announced it has completed a $14M Series A round of financing. Musashi Seimitsu Industry Co., Ltd. led the investment round with the participation from existing and new investors. The investment will help the company to rapidly grow its engineering and product teams, complete its proof-of-concept AM platform, and complete development of its strategic partners applications that will use the platform as a manufacturing base.
"I am very grateful for the continuing support we received from our existing investors and very excited to welcome our new investors, underscoring the confidence in the progress we've made in validating our innovative and disruptive technologies. We will be deploying this technology to advance the digital manufacturing transformation in some of the world's largest addressable markets giving our customers a shocking competitive advantage", said Robert Bagheri, KeraCel chairman and chief executive officer.
"Musashi sees KeraCel as a leading company in Additive Manufacturing," said Hiroshi Otsuka, President and CEO of Musashi Seimitsu Industry Co. Ltd. "Musashi is impressed by KeraCel's unique technology that has the potential to create synergy with Musashi's energy solutions business."
Over the last year KeraCel has made tremendous progress in the development of its platform and the advanced products that it can manufacture with its partners. KeraCel was able to overcome the challenges presented by the pandemic in 2020 while still delivering its development commitments to its partners.
Musashi Seimitsu Industry Co., Ltd. is a global auto parts Tier1 company for automobiles and motorcycles, whose headquarters is located in Toyohashi, Japan. It has 35 manufacturing sites spreading across Europe, North and South America, China, and South East Asia. Musashi specializes in designing, developing and manufacturing products such as Differential Assemblies, Transmission Gears and Assemblies, and Linkage and Suspension (L&S) products especially for the future automobiles including electric and autonomous vehicles. Musashi is also generating and expanding new businesses through open innovation with global startups to contribute to the SDGs in wider business domains. MusashiAI, a leading-edge AI technology subsidiary to lead Industry 4.0, is one of the examples.
KeraCel is an industrial technology company that has developed major breakthroughs in AM platform technology to address the $767B digital manufacturing transformation, has developed the world's first multi-material and multi-method 3D printing platform for high volume production. KeraCel's AM platform is enabling its customers to build complex active devices, such as solid-state battery, micro-fluidic devices, sensors and many other products, while reducing manufacturing complexities, simplifying the supply chain, increasing volume production and significantly reducing overall manufacturing costs. KeraCel's AM platform innovatively combines three major core competencies; advanced materials, additive manufacturing, and unique product design, that provides a significant market advantage to its customers.
David Pederson, KeraCel Inc, +1 888-376-5387, [email protected]
SOURCE KeraCel Inc