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Vivid Machines introduced that it introduced in $132 million in debt and Sequence B fairness funding. The brand new spherical brings the corporate’s whole funding to $330 million. Eclipse Ventures led the fairness portion of the funding, which totaled $100 million. Silicon Valley Financial institution and Hercules Capital led the debt portion of the funding, making up the remaining $32 million.
That is the corporate’s first funding spherical since its SPAC deal fell by in December 2021. In Could 2021, Vivid Machines introduced plans to go public by a merger with SCVX, a special-purpose acquisition firm. The businesses agreed to terminate the deal round a month earlier than it was scheduled to undergo.
The corporate’s flagship product is the Vivid Machines Microfactory. The corporate’s Microfactories are full, programmable meeting strains which can be powered by the Brightware Platform. The Microfactories are designed to permit customers to construct extra items at a decrease price.
The Microfactories are made up of robotics-based work cells designed to cut back flooring area. A Vivid Machines work cell may embody functions like meeting, welding, fastening, dishing out, labeling or inspecting. BrightMachines integrates various completely different robotic arms within the work cells. Every work cell has a normal footprint, and this simplifies the design and format of any variety of manufacturing course of steps.
“We based Vivid Machines with a singular mission to allow our clients to remodel the way in which they’ve traditionally approached product meeting. We’re excited to companion with the trade in making a extra streamlined ‘design-to-make’ course of during which each product may be manufactured nearer to the tip client. In at the moment’s unpredictable, world surroundings, this mission is extra essential than ever,” Lior Susan, CEO and Co-Founding father of Vivid Machines, mentioned. “We imagine our options present a necessary pathway for the trade’s transition to extra native, resilient, and sustainable operations. I’m pleased with the optimistic influence we’ve made up to now and excited for this subsequent section in our journey.”
Vivid Machines plans to make use of the funding to speed up the corporate’s progress, together with increasing into high-demand trade verticals and creating new software program and repair choices to enhance its present portfolio of merchandise. The corporate additionally goals to increase the capabilities of its Microfactory, speed up the Brightwave software program roadmap, strengthen its companion community and develop its buyer base.
The corporate plans on unveiling its latest integration hub in Guadalajara, Mexico later this 12 months and a buyer expertise middle in San Francisco in 2023.