FreeForm, an innovative, advanced manufacturer of complex shaped metal components, recently passed an exciting milestone. Most recently, they did it again by raising $67 million in Series B financing! This infusion of capital will help the Atlanta-based company expand its detailed plans to ramp up the revolutionary new laser technology they’ve pioneered. FreeForm was started by Erik Palitsch and Thomas Ronacher in 2018. Having previously developed rocket engines together at SpaceX, they now seek to fundamentally change the way metal parts are produced.
At the heart of FreeForm’s operations is its AI-native platform that uses laser technology to create precision metal parts at scale. Today, the company works on the company’s GoldenEye printing system, which uses 18 lasers to fuse metal powders. By utilizing real-time data gained through multifunctional sensors, production quality and quantity can be increased dramatically.
Their next generation of FreeForm’s platform, called Skyfall, has the potential to change how manufacturing is done. Its new system will use hundreds of lasers, allowing the facility to produce thousands of kilograms of metal parts each day. Erik Palitsch, CEO and co-founder of FreeForm couldn’t be more sure, when on a recent visit he claimed, “I think we’re the only so-called manufacturing company that has H200 clusters in a production data center on site.” This special ability makes FreeForm the top leader of choice in the solar industry’s market.
FreeForm is pretty excited that Skyfall is releasing soon! To help make the new program a reality, the company will be hiring between 80-100 new employees and growing its operational facility. The firm has a massive backlog of unfilled contracts that they are chomping at the bit to complete. This excitement reflects its tremendous potential for growth within the industry.
Beyond the recent funding, FreeForm’s post-financing valuation is $179 million, according to Pitchbook, which would make the company’s latest round an impressive 32% increase in valuation. This valuation reflects the increasing excitement and investment in advanced manufacturing technologies. Upstarts such as Hadrian are raising the stakes with a billion-plus valuation cap.
The collaboration with Nvidia strengthens FreeForm’s technological capacity. That’s allowing FreeForm to better leverage artificial intelligence, using it to automate production processes in powerful new ways. Focusing on smarter, more streamlined technologies, FreeForm is ready to meet the growing expectations in today’s manufacturing world.