Target Global
Assembly Line
Magnus Metal Raises $74 Million in Series B Funding to Transform Metal Part Casting With its Revolutionary Digital Casting™ Technology
Magnus Metal, a pioneering technology in industrial, high volume digital casting for metal alloys, announced it has raised $74 million in Series B funding, co-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. Magnus Metal will use the latest capital to further develop its innovative casting technologies, while expanding its operations locally and globally to support its Fortune 100 customers.
Magnus Metal innovates the centuries-old metal casting industry by providing an Industry 4.0-based fully automatic manufacturing solution that makes the process faster, safer, and environmentally friendly while both improving quality and reducing cost. Magnus Metal is the first and only additive manufacturing technology that uses the Customer’s current metal raw material providing huge benefits in adoption rate.
Robovision raises $42M to accelerate AI-powered industrial automation
AI-powered computer vision, Robovision, has raised $42 million in its latest investment round, bringing its funding to $65 million. Headquartered in Ghent, Robovision’s AI-powered computer vision platform offers an end-to-end, no-code solution for machinery manufacturers and production lines. Target Global and Astanor Ventures led the round. Red River West also joined the funding round.
The funding round will help accelerate Robovision’s U.S. expansion, fostering a robust local presence to address the increasing demand for automated solutions in American factories. The funds will also be used to invest in R&D and growth in existing markets, with future office openings planned across Germany, France, the UK, the Middle East, and Asia.