Foundry Lab builds high-powered microwave systems that let users melt cold metal powder or ingots in molds to produce cast parts much faster than metal 3D printing. The company says users can produce parts such as brake shoes in under eight hours using 3D-printed molds. It currently works with zinc and aluminum, has completed stainless steel trials, and plans to expand to copper and brass. Near-term focus is supplying car manufacturing R&D teams with production-identical prototype parts for testing prior to mass production. The company emerged from stealth with an $8M Series A and will use the funds to get production-ready by the end of 2023 and hire additional staff. Foundry Lab is based in New Zealand, led by founder and CEO David Moodie, and is targeting markets in the United States and Europe. Staff headcount has risen from six when fundraising began to 17 full-time employees, with a target of about 35, though hiring has been constrained by pandemic-related border closures.

Total raised

$8M

Funding rounds

1

Latest round

Series A

Latest activity

Nov 2021