Magnus Metal, a startup from the Magility network, is bringing the millennia-old casting technology into the digital age of Industry 4.0 with its innovative technology “Digital Casting TM”. Its Digital Casting TM technology combines the benefits of the additive manufacturing and traditional casting, offering a streamlined supply chain and digital inventory management. The company focuses on industrializing machinery, components, materials, and processes, developing a wide range of solutions for various sectors including automotive, agriculture, construction, transportation, and industry. Magnus Metal collaborates closely with Fortune 100 companies and leading OEM manufacturers worldwide.
$74 Million in Series B Funding
Magnus Metal recently raised $74 million in Series B funding to further advance its revolutionary “Digital Casting TM” technology and transform metal casting production. This step will accelerate the industrialization of this innovative technology and solidify Magnus Metal’s position as a leading company that combines additive manufacturing technology for metal alloys with the capability to produce 1 ton of parts daily.
The Investors
The company announced that the funding round was jointly led by Entrée Capital and Target Global, with additional participation from Caterpillar Ventures, Tal Ventures, Deep Insight Ventures, Awz Ventures, Lumir Ventures, Discount Capital, Lip Ventures, Cresson Management, Next Gear Fund, and Essentia Venture Capital. The funds will be used to further develop Magnus Metal’s casting technologies and expand its presence both locally and globally to meet the needs of Fortune 100 customers.
Fully Automated Manufacturing Solution – Digital Casting TM Technology
Magnus Metal is revolutionizing the metal casting industry with a fully automated manufacturing solution based on Industry 4.0. This innovative approach leads to improved safety, sustainability, and financial outcomes.
The investment was driven by strong demand for Magnus Metal’s solution to reshore production lines and address challenges such as environmental regulations and supply chain disruptions. Magnus Metal’s groundbreaking technology provides customized solutions to customers and meets the highest quality standards.
Magnus Metal is a leader in transforming casting technology into the digital age and developing innovative products for various industries, from vehicles to industrial applications.
Congratulations from the entire Magility team!