As a startup company from the west coast of the United StatesVELO3DThe strength of invincible technological innovation, financing, and order acquisition is being established3D printingApplying the new benchmark, this company completed 40 million US dollars of financing during the epidemic, and received a total of 150 million US dollars (over 1 billion yuan) in financing. Today, Velo3D is about to go public, with an estimated market value of US$1.6 billion.
Clear market positioning + clear development strategy
From the correct market positioning
Most of the international companies have established a clear market positioning at the early stage of establishment, including those based on equipment stability, including development and improvement of processing efficiency, and then to rising stars such as VELO3D. In the view of 3D Science Valley, no support is only VELO3D and VELO3D. In terms of user communication, VELO3D’s market positioning is quite clear: design freedom, agile production and quality assurance, these are the unique market positioning created by VELO3D through technology.
After Velo3D has established its market position, it has made efforts in various aspects to create a comprehensive combination of technology, capital, and market advantages. According to the understanding of 3D Science Valley, the way for Velo3D to go public is through the acquisition of JAWS Spitfire. The transaction is expected to be in 2021. Upon completion in the second half of the year, the combined company will be listed on the New York Stock Exchange under the name Velo3D, with the stock code VLD.
The market value of this transaction for the combined company is approximately US$1.6 billion, and the subscription price per PIPE is US$10, and it is assumed that none of the public shareholders of JAWS Spitfire have exercised its redemption rights. Velo3D will receive up to US$345 million in proceeds from JAWS Spitfire’s cash trust and privately raise US$155 million in common stock at a price of US$10 per share. The private placement will be led by strategic and institutional investors (including Baron Capital Group and Hedosophia).
After the transaction is completed, Velo3D will benefit from a flexible capital structure, with cash on the company’s balance sheet of approximately US$470 million, deducting debt, and assuming no redemption.
Strategically realize the triple jump of financing and market development
Abundant cash flow and more convenient financing space in the future mean that Velo3D can carry out drastic technological innovation and market development.According to the market observations of 3D Science Valley, Velo3D successfully won one of the most technically demanding contracts in the manufacturing industry, namely to provide SpaceX, one of the most successful private rocket companies in the world3D printingmachine. Velo3D collaborates with SpaceX to lead the future of space travel, transportation and energy.Since its establishment for more than 6 years since 2014, Velo3D has become a supplier of leading companies in the mainstream aerospace industry.3D printingToward the pain points of industrialization to develop equipment and software solutions.
Velo 3D’s unsupported3D printingtechnology
Velo3D’s financial model is asset-light, supported by a large amount of investment, and can be quickly expanded to meet development needs. The development of VELO3D impacts not only the development ideas of equipment manufacturers.According to the market observation of 3D Science Valley, in China, all international and domestic brands are facing the same cruel price competition. Users are making purchase decisions.3D printingWhen it comes to equipment, I often ignore that the function realization is the user value I am ultimately concerned about. Instead, I compare the hardware parameters of the equipment vendors together. Based on the seemingly “same” equipment configuration, they often simply go Lower the prices of equipment vendors.This is3D printingThere is a misunderstanding that the application side needs to be vigilant. A more stable and smarter device is the basis for creating products. Ignoring the soft conditions of the device will inevitably introduce another misunderstanding to the user’s own manufacturing needs, which is also extremely important for the user’s own development. Adverse.
Velo 3D CEO Benny Muller explains that Velo 3D is unsupported3D printing
VELO3D has obtained more than 40 patents.Its patent development revolves around the original3D printingThe market pain point in the application. Take VELO3D’s just-obtained patented technology for airflow control. VELO3D has developed a mechanism to maintain the surrounding area of the filter at least during the filtering operation or during the process of removing the filter from the filtering mechanism. Inert internal atmosphere to facilitate the3D printingDuring this period, the material carried by the gas is continuously separated from the continuous gas in the circulating gas.
Since its commercialization, Velo3D has attracted an impressive customer base, demonstrating that previously unachievable designs can be produced through Velo3D’s technology and achieving a key balance of cost competitiveness and quality stability. Velo3D has favorable conditions for strong growth in a mature and expanding market.
Boom Supersonic and VELO3D announced their cooperation in 2019 to build XB-1 by manufacturing complex aircraft hardware, and conducted a series of qualification tests on VELO3D’s Sapphire system. The printed titanium parts are used for engine hardware, environmental control systems and structural parts.Its geometric design features include tall and thin outer walls with a high aspect ratio. These outer walls themselves are difficult to pass through traditional processes (such as welding and casting) or most existing3D printingTechnology to manufacture. VELO3D’s unique SupportFree printing process supports unprecedented design freedom and quality control, eliminating manufacturing restrictions in aircraft design innovation.
Challenge market dominance
Velo3D is preparing to commercialize its latest laser powder bed melting (PBF-LB) equipment Sapphire XC, which is expected to ship in the fourth quarter of 2021. Sapphire XC is designed to scale up the previous Sapphire machine, and will support the production of parts five times that of the existing equipment, but the cost is three times lower.
Assuming that no public shareholders of JAWS Spitfire exercise its redemption rights, the existing shareholders of Velo3D will own approximately 72% of the shares, the existing shareholders and sponsors of JAWS Spitfire will own approximately 21% of the shares, and PIPE investors will own Approximately 7% of issued and outstanding common shares.
The transaction was unanimously approved by the board of directors of the two companies, but still requires the approval of JAWS Spitfire shareholders and other customary closing conditions.
The software logic behind the strong development
It is worth mentioning that the angel investor of Velo 3D is Carl Bass, the former CEO of Autodesk. According to the market observation of 3D Science Valley, Carl Bass currently supports 43D printingCompanies have great characteristics and potential for industry disruption.
One of the companies from California, Arris Composites, focuses on carbon fiber composite materials3D printingIndustrialization has opened up a path. During the epidemic, it has obtained 48.5 million US dollars (about 340 million yuan) in Series B financing, which aims to realize the next generation of continuous fiber composite materials in the mass market.3D printingProduction-level applications, and Arris Composites was incubated in Carl Bass’s personal workshop.
The other one breaks through the current3D printingThe pain point of excessive data, the new 3D geometry kernel for additive manufacturing from the West Coast startup Dynarite uses the original mathematical representation (B-spline curve, NURBS and B-rep data) to provide better additive processing path. By not relying on millions of triangles like STL to define printing, Dynadrite’s solution avoids “data expansion” and can improve the quality of printed parts. This means that by eliminating the need to repair the step of dissipating momentum in the STL, it improves repeatability and increases production speed.
Then there is manufacturing autonomy and artificial intelligence-driven Oqton platform. Oqton announced the completion of more than 40 million US dollars in Series A financing in early 2021. The Oqton platform uniquely integrates multiple key industrial computing capabilities in the manufacturing process into one platform (including computer-aided design CAD, product life cycle management PLM, computer-aided manufacturing data preparation CAM, IoT, manufacturing operation management MES, and quality control QMS, etc.), using artificial intelligence technology to continue to promote the process of manufacturing automation. Users of the Oqton platform can collect and summarize production experience, reduce repetitive operations, remotely use and manage production materials, and use real-time computing production plans to improve production efficiency and quality. It is worth mentioning that one of Oqton’s R&D centers is located in Shanghai, China. It can be said that Oqton has the genes for developing the local Chinese market since its birth.
It’s not difficult to see that the 4 companies supported by Carl Bass3D printingEnterprises have the characteristics of software as their core competitiveness and are driven by3D printingIt is used for large-scale production as the development idea-oriented. 3D Science Valley believes that replacing manual solutions based on human experience with scientific and intelligent solutions is the inevitable direction to reduce pain points in the manufacturing process and reduce product costs. The correct direction is the key to success.
The future is here, and software will rule the whole3D printingAnd the era of intelligent manufacturing!
(Editor in charge: admin)
0 Comments for “Release the freedom of 3D printing design and enable agile production. Velo3D will be launched soon, with a market value of US$1.6 billion”