By Kathryn Hardison

 

Alloy Enterprises completed a $3 million financing round, which brings the company's total amount raised to over $10 million in two years.

Lockheed Martin Ventures led the simple agreement for future equity round and was joined by existing investors, including Congruent Ventures, Alloy Enterprises said Wednesday.

Alloy said its manufacturing system provides high throughput of fully-dense aluminum parts, enabling manufacturers to scale from prototyping to production.

Alloy Chief Executive Alison Forsyth said the funding allowed the company to accelerate commercialization as the supply chain continues to curb innovation.

 

Write to Kathryn Hardison at kathryn.hardison@wsj.com

 

(END) Dow Jones Newswires

August 31, 2022 14:51 ET (18:51 GMT)

Copyright (c) 2022 Dow Jones & Company, Inc.
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