3D printing firm secures £400,000 funding boost

A technology group is set to scale its operations following new investment aimed at accelerating innovation in the 3D printing sector.

Exeter-based Evolution AM Holdings, the parent company of Evo 3D and Rapid Fusion, has secured a £400,000 growth loan from the British Business Bank’s South West Investment Fund, managed by The FSE Group. 

Bosses say the cash will support the firm’s commercial launch of Medusa, its latest additive manufacturing innovation, as well as fuel research and development, marketing and recruitment.

They add that the funding will help support the creation of skilled jobs, as Evolution AM targets sectors including aerospace, automotive and energy, which continue to drive global demand for 3D printing.

Jake Hand, group managing director at Evolution AM, said: “This South West Investment Fund loan is helping us bring Medusa to market, a product we believe will redefine standards in the 3D printing sector.

“Our experienced team is dedicated to pushing the boundaries of innovation and technology, ensuring that we can be leaders in this vibrant industry and we’re delighted to work with the team at FSE as we scale for further growth.”

Evo 3D specialises in large-format 3D printer distribution, while Rapid Fusion designs and manufactures equipment for this growing market. 

Founded in 2021 and 2023, respectively, the two businesses are targeting £6 million turnover within three years.

Rob Ward, investment manager at FSE, added: “We are thrilled to fund this young and dynamic business as it continues to leverage its strengths, which include a strong track-record of sales, a robust research and development pipeline and fully owned intellectual property.

“The commitment to innovation and strategic approach to growth makes Evolution AM an ideal portfolio addition and we look forward to seeing their continued success in the 3D printing space.”

The South West Investment Fund offers loans from £25,000 to £100,000, debt finance up to £2 million, and equity investment up to £5 million, helping smaller businesses access funding they might otherwise struggle to secure.

Paul Jones, senior investment manager at the British Business Bank, added: “The South West Investment Fund is here to unlock the potential of ambitious businesses across the region, and Evolution AM is a great example of that. 

“Their innovation in 3D printing, especially with the launch of Medusa, demonstrates the kind of cutting-edge technology being developed right here in the South West. 

“We’re proud to support their journey as they scale, create skilled jobs and push the boundaries of what’s possible in additive manufacturing.”

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