{"id":3241,"date":"2021-11-29T18:33:00","date_gmt":"2021-11-29T18:33:00","guid":{"rendered":"https:\/\/www.prnasia.com\/story\/archive\/3589970_CN89970_0"},"modified":"2021-11-29T18:33:00","modified_gmt":"2021-11-29T18:33:00","slug":"foundry-lab-raises-us-8m-series-a-round-to-make-metal-casting-as-easy-as-a-microwave-dinner","status":"publish","type":"post","link":"https:\/\/transmediavictoria.net.au\/?p=3241","title":{"rendered":"Foundry Lab raises US $8M Series A round to make metal casting as easy as a microwave dinner"},"content":{"rendered":"

WELLINGTON, New Zealand<\/span>, Nov. 30, 2021 \/PRNewswire\/ — Digital metal casting startup Foundry Lab emerged from stealth today, announcing a<\/span> US$8M<\/span> Series A raise led by Blackbird and showcasing their ability to create functional metal parts in less than a day. With growing interest from automotive industry giants and backed by the likes of Peter Beck<\/span> of Rocket Lab, the startup is on a mission to make metal casting as easy as a microwave dinner. <\/p>\n

Based in Wellington, New Zealand<\/span>, Foundry Lab has developed microwave casting technology that makes same-day turnaround of metal castings possible. These production-identical parts have applications in mass manufacturing industries where metal 3D printing cannot reach. <\/p>\n

Existing casting systems like investment casting, 3D printed sand molds and die-casting require a 1-6 week production time. Recently, brake shoes cast by Foundry Lab went from CAD files to cast aluminum parts in less than 8 hours. Foundry Lab’s Digital Metal Casting (DMC) system allows users to create metal parts in any casting alloy for functional testing before mass production. <\/p>\n

In addition to Blackbird, the Series A round includes global and New Zealand<\/span> investment leaders such as GD1, Founders Fund, Promus Ventures, WNT Ventures, Icehouse, and K1W1, as well as Motional CEO Karl Iagnemma<\/span> and former Autodesk CEO Carl Bass<\/span>. <\/p>\n

“3D printing is great for look-alike parts, but the world runs on real parts, and metal printing can never produce a real casting,” says Foundry Lab CEO and founder David Moodie<\/span>. The team’s focus on production-identical metal castings is being proved out with the successful production of parts like brake shoes. “We’re able to work at speeds 3D printing can only dream of.” <\/p>\n

“Foundry Lab has the chance to impact industries and redefine how products are developed and we’re excited to help them scale globally,” says Samantha Wong<\/span> of Blackbird Ventures. <\/p>\n

Bringing together deep domain experts such as Beck and Iagnemma alongside some of Australia<\/span> and New Zealand’s<\/span> leading investors was important for the company’s global growth aspirations. <\/p>\n

The Series A investment will help Foundry Lab scale the team with roles in RF\/microwave engineering, mechatronics, mechanical, simulation and software engineering hiring at the moment. <\/p>\n

Learn more at https:\/\/www.foundry-lab.com\/<\/a>
Media enquiries: melia@blackbird.vc<\/a> <\/p>\n

\"Cision\" View original content:https:\/\/www.prnewswire.com\/news-releases\/foundry-lab-raises-us-8m-series-a-round-to-make-metal-casting-as-easy-as-a-microwave-dinner-301433107.html<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

WELLINGTON, New Zealand, Nov. 30, 2021 \/PRNewswire\/ — Digital metal casting startup Foundry Lab emerged from stealth today, announcing a US$8M Series A raise led by Blackbird and showcasing their ability to create functional metal parts in less than a day. With growing interest from automotive industry giants and backed by the likes of Peter […]<\/p>\n","protected":false},"author":8,"featured_media":3242,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[20],"tags":[],"class_list":["post-3241","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news"],"yoast_head":"\nFoundry Lab raises US $8M Series A round to make metal casting as easy as a microwave dinner - My Blog<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/transmediavictoria.net.au\/?p=3241\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Foundry Lab raises US $8M Series A round to make metal casting as easy as a microwave dinner - My Blog\" \/>\n<meta property=\"og:description\" content=\"WELLINGTON, New Zealand, Nov. 30, 2021 \/PRNewswire\/ — Digital metal casting startup Foundry Lab emerged from stealth today, announcing a US$8M Series A raise led by Blackbird and showcasing their ability to create functional metal parts in less than a day. 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