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Divergent Technologies, Inc. Announces Closing of Upsized $230 Million Series D Capital Raise
Tuesday, November 21, 2023
Funding round will accelerate Divergent's commercial scale-up across automotive, aerospace, and defense production
LOS ANGELES, Nov. 13, 2023 /PRNewswire/ -- Divergent Technologies, Inc. ("Divergent"), the company that has invented, developed, and commercialized the world's first end-to-end digital industrial manufacturing system, announced today that it has completed a Series D equity financing totaling $230 million. The round was led by a $100 million investment from Hexagon AB and included participation from new and existing institutional and family office investors.
Divergent has developed the Divergent Adaptive Production System ("DAPS(TM)"), an end-to-end system-level replacement for traditional design, manufacturing, and assembly solutions. DAPS is a complete software-hardware production system that leverages in-house developed AI-driven generative design software to computationally engineer structures, novel materials and additive manufacturing to materialize structures, and automated fixtureless assembly to create large multi-part assemblies. Products created using DAPS are superior in performance, lower in cost, rapidly customizable to meet mission and customer-specific requirements, faster to market, and scalable on demand to high volume production.
Divergent uses this revolutionary system to supply the automotive, aerospace and defense industries with next generation products as a certified Tier 1 supplier. It has seven blue-chip automotive customers, including Aston Martin and Mercedes-AMG. Within the aerospace and defense industry, Divergent is actively working with six U.S. government contractors across a diverse range of applications.
"DAPS was created to serve as the foundation for a global system of regional manufacturing facilities that combine and fully exploit supercomputing, AI, robotics and additive manufacturing in a novel way," said Kevin Czinger, Founder, Lead Inventor and CEO. "We now have entered the '4D Age' of fully digitized design-manufacturing-assembly as a service, dematerialized products using and requiring less material and energy, distributed regional production, and democratized access to the tools, data and production assets necessary for innovation in our human-built world."
Lukas Czinger, President and Chief Operating Officer added, "DAPS allows customers to develop higher performing products on faster timelines and with zero design-specific capex, freeing manufacturers from the burdens of legacy design decisions. Divergent is on a mission to rebuild the American industrial base with a truly transformational manufacturing technology."
About Divergent
Divergent has created the world's first end-to-end software-hardware production system for industrial digital manufacturing - the Divergent Adaptive Production System (DAPS(TM)) - allowing customers to design, additively manufacture, and automatically assemble complex structures for automotive, aerospace, and defense applications. DAPS transforms the economics and environmental impact of manufacturing complex structures for vehicles of all types by optimizing designs, dematerializing structures, and eliminating upfront capex. For more information, please visit www.divergent3d.com.
View original content:https://www.prnewswire.com/news-releases/divergent-technologies-inc-announces-closing-of-upsized-230-million-series-d-capital-raise-301985962.html
SOURCE Divergent Technologies, Inc.
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