Get in the KNOW
on LA Startups & TechX
Divergent Technologies wants to radically change automotive manufacturing with 3D printing, smarter software and an entirely new approach to assembly. A new $160 million round of funding should help the Torrance-based startup on that mission.
Divergent unveiled the Series C round on Monday, announcing investors like businessman (and 2020 Democratic presidential candidate) Tom Steyer and former Goldman Sachs president John L. Thornton, who has joined the company’s board of directors (Thornton also currently sits on Ford Motor Co.’s board). Bloomberg reported that London-based investment firm Hedosophia also participated in the round, which values Divergent at more than $1 billion and adds to $200 million in previous funding from the likes of Horizons Ventures and Altran Technologies.
The company’s technology combines generative design and 3D printing to create custom-tailored components for auto parts manufacturers. Its software inputs the volume of the part, where it needs to connect to the rest of the vehicle and what kind of loads it needs to tolerate. The computer then calculates the optimal shape and design for the final product; designs can be optimized for weight, strength, cost and other parameters. Once a design is selected, it’s constructed, layer by layer, by one of Divergent’s printers, and then assembled autonomously.
“It’s an entirely new production system that we've created from scratch,” Divergent senior vice president Lukas Czinger told dot.LA. “If your cost target changes, or your mass target changes, or your design volume changes, or you want to quickly introduce a variant to your car. Within days, literally, we can design, print and assemble that new design.”
Czinger was tight-lipped about which specific auto manufacturers the company is working with—but said Divergent would be making announcements this summer, and that three of the original equipment manufacturers (OEMs) it is working with “are within the five largest OEMs in the world.” Czinger confirmed that some of the car models that Divergent is designing for are electric vehicles.
In addition to making auto manufacturing cheaper and faster, Divergent also claims its system can reduce the industry’s carbon footprint by reducing waste and improving efficiency. Steyer—an environmentalist who made climate change a major part of his presidential campaign platform—said Divergent is “one of the companies I’m most hopeful will have an important impact on our ability to combat climate change” in a statement.
“Zero-emissions vehicles are an important part of a greener future, but if we can't reduce the environmental costs of building them in the first place, their impact will never be fully realized," Steyer said. “Divergent's technology can change that.”
Divergent said it will use the funding to scale up its manufacturing facilities, with plans for new factories in the U.S. and Europe “starting in 2024.”
- How Amazon's Jeff Wilke Plans to Bring Back US Manufacturing ... ›
- Jeff Wilke is Obsessed With Bringing US Manufacturing Back - dot.LA ›
- Inside Machina Labs, the AI Robotics Startup That Wants to ... ›
- Divergent Secures $160M, Coral Tree Partners Land $470M Fund - dot.LA ›