NORCROSS, Ga.--(BUSINESS WIRE)--WEAV3D Inc., an innovator in composite materials, manufacturing processes and processing equipment, announces it has recently closed a $1,000,000 Simple Agreement for Future Equity (SAFE) raise, thanks to participation from the Castellan Group, Propel(x) and Entuitive. This investment will support the expansion of WEAV3D’s engineering and sales teams to scale up the company’s commercialization activities over the next year.
“We at Castellan are thrilled to be partnering with WEAV3D,” says Scott Smith, Founder of the Castellan Group, an independent investment advisor. “We believe the company has the potential to transform many critical industries, driving sustainable benefits for both businesses and the environment.”
In addition to the Castellan Group, the $1,000,000 SAFE raise was made possible by Propel(x), an online investment platform that connects investors to industry experts and deep technology startups, as well as by Entuitive, a market-leading structural engineering firm that has made a strategic investment in WEAV3D. A number of private angel investors were also involved.
This investment comes on the heels of a $999,943 National Science Foundation (NSF) Small Business Innovation Research (SBIR) Phase II grant. This award will fund the design, fabrication and testing of a continuous composite forming machine that uses ultrasonic welding to increase the production throughput of WEAV3D’s continuous composite forming process. The process produces optimized lattice structures that enable the creation of lightweight structural composite parts at a fraction of the cost and cycle time associated with traditional composite manufacturing.
Learn more: www.weav3d.com.
About WEAV3D Inc.
WEAV3D Inc. is an innovator in composite materials, manufacturing processes and processing equipment. Headquartered in Norcross, GA, they originated as a technology startup within the Materials Science and Engineering department at the Georgia Institute of Technology. The patent-pending WEAV3D composite forming process enables the production of optimized lattice structures that can be combined with injection molding or thermoforming processes to create lightweight structural composite parts at a fraction of the cost and cycle time associated with traditional composite manufacturing. These innovations enable companies in industries such as automotive, aircraft, wind turbines and cargo transportation to produce parts that are lighter, stronger and less expensive. Learn more: www.weav3d.com.
About Castellan Group
Castellan Group, LLC is a SEC-registered investment advisor and multi-family family office that exists to partner with ultra-high net worth families as accountable stewards of their assets. In addition to managing a number of quantitative public investment strategies, Castellan structures direct investments in healthcare, financial technology, emerging consumer, green technology, and waste disposal businesses across a variety of stages and levels of the capital stack. Learn more: www.castellangroup.com.
Propel(x) is an online investment platform capitalizing Deep Technology. Propel(x) connects investors to industry experts and Deep Tech startups. Startups featured on the platform are pioneering innovations such as new forms of clean energy, life-saving treatments, new methods of space exploration, and artificial intelligence, amongst others. As the premier platform for Deep Tech innovation, Propel(x) seeks to help the next generation of visionary companies. Learn more: www.propelx.com.
We take design performance to new heights through our collaboration with clients, including architects, developers, building owners and managers and construction professionals. Our practice encompasses structural engineering, building envelope, restoration and special projects consulting. We earn our reputation by applying our ingenuity in a wide variety of sectors, including commercial, sports and recreation, institutional, cultural, residential, retail, healthcare, transportation and hospitality.
Learn more: www.entuitive.com.