Cycle Capital leads AON3D investment to expand printer production
AON3D secures undisclosed financing to manufacture and deploy its Hylo industrial 3D printers and meet its existing order book.
A new lead with returning investors
Cycle Capital led the January 28 round, with Desjardins Capital participating alongside existing investors SineWave Ventures, IronGate Capital Advisors, Starship Ventures and EDC Capital. The issuer did not disclose an amount or numbered funding stage.
Financing commercial expansion
The investment supports increased manufacturing capacity and commercial deployment of Hylo, with AON3D reporting an existing order book to fulfill. Its hardware-and-software approach is intended to help manufacturers qualify polymer parts and expand production applications.
Founded in Montreal in 2015, AON3D said its products served hundreds of businesses in more than 25 countries. The financing therefore backs expansion of an operating manufacturing business with an established customer base.
Use of funds
Increase printer manufacturing capacity
Commercialize Hylo and fulfill existing orders