Content area
Abstract
Cambridge MA-based Foundation Alloy has received a $10 million investment from The Engine (a venture firm spun out of Massachusetts Institute of Technology [MIT] that invests in early-stage Tough Tech companies) and Material Impact. Safar Partners also participated in the round of fundraising that will fuel Foundation Alloy's plans to commercialize its integrated approach to part production, enabling flexible production of high performance parts while reducing manufacturing time, waste and energy. Foundation Alloy was founded in Feb 2022 by MIT's Jake Guglin, CEO, Head of Research & Development Jasper Lienhard, and Chris Schuh, and University of California Irvine Professor Tim Rupert. The capital will go toward a pilot facility to validate and demonstrate the company's technology and value to customers. Foundation Alloy materials technology underpins two major innovations. The first creates significant improvements in sintering, a critical process in manufacturing techniques like metal-injection-molding and state of the art binder-jet 3D printing.