Publish Date : 23-May-2018
Sumitomo Corporation, through Sumitomo Corporation of Americas, is pleased to announce its investment in Arevo, Inc. (AREVO), a innovative manufacturers of 3D printed carbon fiber composite parts.
AREVO, the leader in software-controlled additive manufacturing technology, introduced a new CEO and a $12.5 million Series B financing round to usher in the next era of 3D printing and transform the way manufactured products are conceived, designed, built, and maintained. With its unique combination of software, robotics, and materials, AREVO provides designers and manufacturers with unprecedented freedom to unlock the unparalleled strength, weight and economics of composite materials for a wide range of consumer and industrial products.
New CEO Jim Miller oversaw Amazons expansion from books, music and video to full-range fulfillment capabilities as vice president of supply chain, ushering in its meteoric rise to $6 billion in annual revenue and building the foundation for the company that it is today. Later, as vice president of worldwide operations at Google, he led the team that planned, built, deployed and operated the infrastructure that powers Google: search, YouTube, Gmail, advertising and cloud businesses.
Millers appointment coincides with the close of $12.5 million in Series B financing led by Asahi Glass, with Sumitomo Corporation of Americas, Leslie Ventures and Khosla Ventures. The new financing will help the company build on its groundbreaking R&D success and focus on the full-scale commercialization of its technology across a diverse set of industries such as aerospace, defense, transportation, automotive, consumer electronics, sporting goods, medical, and oil and gas.
AREVO is at an exciting inflection point in its business right now, said Jim Miller, CEO of AREVO. We have the technology, team and tools to commercialize our software and fabrication process to build high strength parts that the manufacturing industry hasnt been able to conceive and construct before.
AREVO has created a new paradigm for manufacturing by combining dynamic software, automation and robotics, and patented materials science to reimagine how products are created, from ideation to execution. Innovative partners building for mass markets will be able to leverage AREVOs software and robotic printing process to create and scale lightweight products of superior strength and unlimited size.
To demonstrate its software and robotics at work, AREVO partnered with Studio West to create the worlds first true 3D-printed commuter bike. A reimagined form factor removed a seat stay between the seat and back wheel, adding strength and new simplicity.
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