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Foundry Lab is a technology company.
Foundry Lab has raised $8.0M across 1 funding round.
Foundry Lab has raised $8.0M in total across 1 funding round.
Foundry Lab specializes in digital metal casting, enabling on-demand production of high-quality metal parts quickly and cost-effectively.
Foundry Lab has raised $8.0M in total across 1 funding round.
Foundry Lab's investors include Blackbird Ventures Australia, The House Fund, Carl Bass, Karl Iagnemma, Peter Beck, Founders Fund, GD1, Icehouse Ventures, K1W1, Promus Ventures, WNT Ventures.
Foundry Lab is a New Zealand-based technology company specializing in Digital Metal Casting (DMC), an innovative system that enables on-demand production of high-quality cast metal parts in hours rather than weeks or months.[1][3][4] It serves manufacturers in industries like automotive and power management (e.g., Eaton), solving pain points in prototyping, short-run production, and supply chain dependencies by combining 3D printing for molds with microwave furnace technology to drastically cut costs, lead times, and tooling expenses compared to traditional foundries or metal 3D printing.[3][5][6] The company has raised $8M in Series A funding (2021) led by Blackbird Ventures, plus seed from Founders Fund and Promus Ventures, fueling expansion including a U.S. demo center in California; growth momentum includes partnerships with global firms, orders at Formnext 2023, and an Evaluation Program for customers.[1][4][5]
Foundry Lab originated from unconventional experiments in 2017 when founders began melting metal in domestic microwaves, evolving from explorations of alternative casting methods in 2016.[4] Officially founded in 2019 by David Moodie (CEO) and a team of engineers, the idea emerged from identifying gaps in traditional casting's speed and flexibility, leading to the first Gen1 system build in 2020 and the inaugural successful part cast in 2021.[2][4] Pivotal early traction included pre-seed from WNT Ventures (2018), seed funding, and a landmark $8M Series A in 2021 from Blackbird, GD1, Founders Fund, and Promus Ventures, coinciding with emergence from stealth and proof-of-concept with top automotive manufacturers.[1][4] Key milestones: Formnext launch (2022), U.S. demo center opening (2023), and collaborations like Eaton for complex aluminum parts with steel inserts.[4][5]
Foundry Lab rides the additive manufacturing hybrid trend, merging 3D printing's precision with casting's scalability to address AM limitations in production metals and complex assemblies amid global supply chain disruptions.[5][6] Timing is ideal post-2021 funding boom and reshoring pushes, as manufacturers seek agile, localized production to counter delays from traditional foundries—exemplified by automotive proofs and Eaton's legacy part upgrades.[1][4][5] Market forces like rising demand for rapid prototyping in electrification/power sectors favor it, positioning Foundry Lab to influence the ecosystem by enabling "cast from the start" workflows, reducing 3D printing overuse for prototypes, and expanding DMC adoption via U.S. expansion and trade shows like Formnext.[3][4][6]
Foundry Lab is poised to scale DMC globally, with next steps likely including broader system sales, more enterprise pilots beyond Eaton/automotive, and Gen2 advancements for higher volumes.[4][5] Trends like supply chain resilience, AM-casting hybrids, and U.S. manufacturing revival will propel growth, potentially evolving its influence from niche innovator to standard tooling alternative as adoption hits critical mass. This on-demand casting revolution echoes the query's tech company essence—unlocking manufacturer control just as microwaves transformed domestic life.[1][3][4]
Foundry Lab has raised $8.0M across 1 funding round. Most recently, it raised $8.0M Series A in November 2021.
| Date | Round | Lead Investors | Other Investors |
|---|---|---|---|
| Nov 1, 2021 | $8.0M Series A | Blackbird Ventures Australia | The House Fund, Carl Bass, Karl Iagnemma, Peter Beck, Founders Fund, GD1, Icehouse Ventures, K1W1, Promus Ventures, WNT Ventures |