Boeing’s venture capital arm has added to its investment in Morf3D, a California startup that focuses of aerospace applications for 3-D printing.
The fresh investment, announced today, follows a Series A investment round that Boeing HorizonX Ventures co-led back in April 2018. The precise amount of the investment hasn’t been released, either for last year’s round or for the newly reported round. However, HorizonX’s investments are typically in the range of seven figures or the low eight figures.
Since its founding in 2015, Morf3D has taken on 3-D printing projects for Boeing as well as Honeywell, Collins and other aerospace companies. Its work for Boeing has focused on aluminum and titanium components for satellites and helicopters.
In today’s news release, Morf3D said the fresh funding follows a significant increase in customer demand.
“It is amazing to see our strategy come to life! Our vision to become a world-class leader in metals additive manufacturing for the aerospace industry is truly taking form,” said Ivan Madera, Morf3D’s founder and CEO.
Brian Schettler, senior managing director of Boeing HorizonX Ventures, said Boeing’s commitment to Morf3D extends beyond the money.
“Our latest strategic investment in Morf3D extends our commitment to our Industry 4.0 efforts — technologies that can transform aerospace supply chains for future growth and competitiveness,” Schettler said. “We continue to work closely with Morf3D to help them bring innovation through additive manufacturing to more aerospace manufacturing partners.”
Boeing HorizonX Ventures was established in 2017 to invest in startups working on technologies that are relevant to the aerospace giant’s industrial frontiers, ranging from 3-D printing and autonomous drones to satellite communications and hypersonic flight. Nineteen companies are in its publicly announced portfolio.