Khosla Ventures invested $ 7 million in Arevo, startup of 3D printing composite materials

Arevo Labs has been engaged in the development of technologies and materials for 3D printing with reinforced polymers since 2014. It has been revealed that the company closed Series A funding round and raised $ 7 million from the pool of investors led by Khosla Ventures.

Arevo, a winner of Autodesk REAL Deal Start Up competition, develops its own 3D Printing (Reinforced Filament Fusion) technology, works on the improvement of polymer based composite formulations and develops cloud-based software which can improve fiber placement in 3D orientations.

To date, the startup offers advanced composites under three trademarks: Quantevo, Katevo and Xanevo.

Quantevo PAEK (Polyaryletherketone) is one of the most versatile formulations for additive printing, this is an optimized ketone-based formulation. Due to its light weight, non-corrosive properties, and high strength, this material is used in aerospace applications. The automotive industry will appreciate the long-term stability of the composite, and inert and bio-compatible nature of Quantevo make it an excellent material for the manufacture of medical devices.

Katevo PEEK(polyetheretherketone, PEEK) is one of the highest performing engineering grade thermoplastics.  Extended dynamic fatigue resistance and ability to tolerate temperature over 250C make it a preferred material for the oil and gas industry, and extraordinary resistance to aggressive process chemicals enable the composite to be used in the fabrication of semiconductor wafers.

Xanevo PARA (Polyarylamide, PARA) exhibit exceptional strength and stiffness compared to other engineering thermoplastics. Its unique chemistry results in a composition with extraordinarily low creep and coefficient of thermal expansion. In combination with an excellent surface finish, this material is indispensable for applications such as single-use medical instruments and other applications where standard polyamides are mechanically insufficient.

Hemant Bheda, CEO and Founder of Arevo, promises that their 3D printing technology and software suites will lead to higher quality parts in the aerospace, medical, and automotive industries. Series A funding round will enable them to meet near-term product development objectives, which will be announced later this year.

The company’s ambition is quite consistent with the ideology of Khosla Ventures, which was described as “mega venture capital” by the TechCrunch. The fund focuses on technology startups, mobility, and the Internet technologies.  The founder of Khosla Ventures is Vinod  Khosla who is a well-known venture capitalist and one of the founders of the famous Sun Microsystems.

3D printing with reinforced composites is not just a tribute to technological trends, but a requirement of modern industry which has a demand in high strength components with a very strict set of physical and mechanical parameters – conditions impossible to meet using conventional technologies, e.g. casting.

Not so long ago, in June 2016, the company that developed 3D-printer, which uses a high-strength composite material – fiber-reinforced plastic, became a winner of industrial startups competition, which was held during the conference Digital Industry of Industrial Russia (CIPR).

Companies: Arevo

Countries: Russia

Industries: Aerospace, Automotive and Road Transportation, Finance & Investment, General society, Medical

Terms: Capital, Composite materials

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