Metal additive manufacturing firm Conflux Technology has raised AUD$8.5m in its Series A investment round.
The company, which uses metal 3D printing technology to develop heat exchangers for the aerospace, microelectronics, energy and automotive sectors, has attracted investment from AM Ventures and Acorn Capital.
AM Ventures initially provided funding to Conflux Technology back in 2017, with the company immediately expanding its workforce and going on to service customers in a range of industries and geographies with additively manufactured heat exchangers. These heat exchangers are said to exhibit an enhanced performance, with improvements to heat transfer and pressure drop, and significant savings in weight and space.
Having proved out additive manufacturing’s capacity to develop improved heat exchanger components and successfully delivered them into a variety of vertical markets, AM Ventures, along with Acorn Capital, have been persuaded to provide a further cash injection into Conflux Technology.
“The investments will enable us to significantly increase our capacity and capability,” commented Conflux Technology founder and CEO Michael Fuller. “We will be increasing the number of metal AM machines and investing in the latest series-production platforms, continuing to grow our team and furthering our vertical integration with final post-processing of parts. Our transformation from research and development to a fully-fledged production facility is now in action. It’s exciting to be able to advance our offering and expedite long-held plans.”
“Heat exchangers are one of the biggest applications in 3D printing,” added AM Ventures Managing Partner Arno Held. “Highly complex geometries enabling a more efficient thermal management in order to reduce energy consumption and waste of materials require highly qualified experts who are capable of mastering the best manufacturing technologies and software tools. This is exactly what makes the Conflux team unique in this world.”
“Acorn is thrilled to be partnering with Conflux Technology,” offered Acorn Capital Portfolio Manager Ben Dalling. “We have a long history of investing in and supporting technology and advanced manufacturing in Australia, and Conflux is a world leader in additive manufacturing of heat exchangers – a critically important technology across many industries from aerospace to computing. We are very excited to be part of the Conflux story going forward.”
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