Published On: Tue, Aug 11th, 2020

With former Misfit owner Sonny Vu during a helm, Arevo raises $25 million for the 3D copy tech

Sonny Vu, a former owner and arch executive of a wearable record company, Misfit, has had a bustling summer given he was named a new arch executive of 3D copy record company, Arevo.

Vu’s new startup brought on a new executive government team, launched a crowdfunding debate for a 3D printed Superstrata bicycle and is now announcing a tighten of a $25 million financing turn to support a expansion of a business.

It’d be a lot for anyone to take on even if it didn’t occur in a center of tellurian pandemic. But Vu, a sequence businessman whose final business went head-to-head with Apple before it was acquired by Fossil for $260 million, doesn’t bashful divided from challenges.

Superstrata opens pre-orders on a span of 3D-printed bicycles

Vu was initial introduced to Arevo in 2019 and was primarily going to come on as an confidant to a company. Since a merger of Misfit he had been investing from Alabaster, his personal investment vehicle. First introduced by Vinod Khosla, an financier in a business, Vu quick changed from being an confidant to an executive during a helm of a business and an financier providing overpass financing until a association could tighten a latest round.

Vu had primarily dictated to start his possess business, though was drawn to Arevo’s potential. “3D copy is about creation things solemnly and in tiny quantities. With Arevo’s record we can make vast things utterly fast,” Vu pronounced in an interview.

Several companies are attempting to take 3D copy into complicated attention and vast scale manufacturing. Relativity lifted $140 million in a many new financing to make rockets regulating 3D printers, Velo3D is a retailer of 3D printers to SpaceX, and now Arevo has $34 million for a efforts to scale 3d printers. Of march all of these investments dark in comparison to a whopping $438 million that Desktop Metal has lifted for a 3D copy tech.

“Arevo is a constrained event for us as it combines a 3 categorical investment foci: consumer internet, enterprise, and intelligent tech. We see illusory intensity in this market, and have corroborated Sonny before during Misfit,” pronounced Hans Tung, in a statement. “Arevo is led by an gifted group with plain technological substructure and 3D copy prolongation expertise during scale – to offer breakthrough products during rival prices.”

Desktop Metal only lifted another $160 million

Arevo already has a successful explanation of judgment with a Superstrata bicycle and prolongation comforts in Vietnam that are dictated to infer that a company’s record will work as expected.

“We’re creation this bike to make a indicate that we can make formidable shapes during a flattering vast scale,” Vu said. Unlike other companies that sell their printers to manufacturers, Arevo intends to sell parts. That’s given a printers are a flattering large sheet for anyone to buy. At $1 million to $1.4 million, it’s a vast ask for a association to acquire if it wants to start regulating 3D printing.

On tip of that cost, Vu pronounced frankly that a company’s Achilles heel was a post-manufacturing diagnosis routine compulsory to finish a pieces. And while Arevo already depends automotive and aerospace companies as business (including Airbus, that formerly invested in a business), Vu wants to move this to consumers. “We’ve had tennis racquet companies, golf clubs, surfboards,” proceed Arevo about regulating a company’s technology, Vu says.

“We can do about dual frames per day per machine,” Vu says of a latest prolongation rates. “And entrance adult with a subsequent gen complement we can do about 6 frames per day.”

The ascent of Vu to a arch executive position and a new collateral distillate outlines a latest section for Arevo that is on a third arch executive given it was founded. Two years ago, Jim Miller, a former Amazon and Google executive, was brought on house to take a reins during a company. Miller’s appointment coincided with a $12.5 million investment turn led by Asahi Glass, with Sumitomo Corp., Leslie Ventures and Khosla Ventures participating. Miller was concerned with collaborating with Studio West on a pattern of a Superstrata bike.

Now, Defy Partners and GGV Capital are fasten to lead a company’s Series B turn with appearance from Khosla Ventures, Alabaster and others. Brian Shin, a director with Defy Ventures is fasten a house that now depends Bruce Armstrong, from Khosla Ventures, and Hemant Bheda, Arevo’s co-founder as directors (along with Vu).

“Arevo’s new height enables phony of high strength, low weight CO fiber parts, now not probable with today’s customary techniques,” pronounced Trae Vassallo, first partner during Defy. “We are anxious to be operative with a group to assistance scale adult this impossibly impactful technology.”

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