-Divergent Technologies said on Monday it has raised $290 million at a valuation of $2.3 billion, as the additive manufacturing startup scales up to meet growing demand from defense customers.
The funding round includes $250 million in equity and $40 million in debt, led by Rochefort Asset Management. Divergent said the proceeds will accelerate construction of its production facilities.
Divergent designs and builds hardware that essentially enables customers to 3D-print and assemble parts. It serves aerospace, defense and automotive clients, including General Atomics, Lockheed Martin, and Raytheon.
The deal highlights investor appetite for next-generation manufacturing technologies, particularly in aerospace and defense sectors where supply chain disruptions have constrained production amid surging demand.
Additive manufacturing, or 3D printing, is a digital fabrication process that builds a three-dimensional object layer by layer, directly from a digital file.
More companies are adopting additive manufacturing processes that can accelerate production and reduce costs by minimizing material waste and eliminating expensive tooling requirements.
Earlier this year, RTX’s Pratt & Whitney said it had developed an additive manufacturing repair process for its geared turbofan (GTF) engine components, which would reduce process time by more than 60%.
(Reporting by Utkarsh Shetti in Bengaluru; Editing by Tasim Zahid)
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