Sheffield firm seeking to create 'the next 3D printing' launches £1.5m fundraising round
A Sheffield manufacturing company has launched a £1.5m equity crowdfunding round to invest in technology it says “could be the next 3D printing”.
A Crowdcube fundraising round values Fyous at £25m and builds on a £1.3m raise from angel investors last year. The company has raised £3.2m to date, with backing from Innovate UK and Scott Crump, former chairman of NASDAQ-listed additive manufacturing company Stratasys and inventor of Fused Deposition Modelling, the world’s most widely used 3D printing technology.
It has developed a new, patent-pending method for producing manufacturing tooling to support rapid prototyping and affordable production of mass-customised products. It replaces fixed tooling with machines featuring tens of thousands of digitally controlled pins that reconfigure in minutes to create temporary injection moulds, forming tools and workholding fixtures.
Fyous has a waitlist of manufacturers for its machines in the footwear and dental sectors and has already received expressions of interest to join this round worth almost £500,000.
Joshua Shires, CEO of Fyous, said: “Apple put a thousand songs in your pocket with the iPod, and Fyous is putting a million moulds on your desktop with polymorphic manufacturing. We believe polymorphic manufacturing could be the next 3D printing. This is a new production category that transforms CAD files into temporary tooling for faster product development and affordable mass customisation.
"Fyous addresses the bottlenecks that hamper injection moulding and industrial-scale 3D printing, and has the potential to lower costs, increase capacity, and reduce waste in multiple industries.”