Aurora Labs Raises $7m to Fast-Track its 3D Printer Business

Aurora Labs (ASX: A3D) have successfully raised funds completed from an oversubscribed share placement to raise $7m at $2.50 per share – to fast-track the development of the company’s 3D printers.

KEY TAKEAWAYS:

• The Perth-based company are developing a range of metal 3D printers that are cheaper than its competitors.
• The new funds will be spent to accelerate the development + testing of Aurora’s innovative printers.
• The company listed on the ASX during August 2016 after successfully raising $2.8m through an IPO.

“Aurora burst into investors’ consciousness late last year when the stock, which listed at $0.20, skyrocketed to a peak of $5.35, giving it a market capitalisation of nearly $300 million. The focus of the exuberance is its large-format 3D metal printer prototype that can be used to make metal parts for a variety of industrial applications. Interestingly, Aurora is in discussions with some of the world’s biggest mining companies to reduce their inventories of spare parts through the use of the company’s 3D metal printer. In December 2016, Aurora shipped itsfirst small S-Titanium Pro printer to a buyer. This marked the company’s transition from a developer to a producer of 3D metal printers.”

Aurora Labs has patent-pending technology that has the potential to revolutionize the manufacturing industry. They have developed the world’s first affordable 3D metal printer which is moving to commercialisation in the next few months. They are in the prototyping and testing phase of their ground breaking large format printer which is expected to print 100 times faster than current competing printers with similar resolution.