{"id":167216,"date":"2020-11-18T15:49:00","date_gmt":"2020-11-18T15:49:00","guid":{"rendered":"http:\/\/facfox.com\/news\/?p=167216"},"modified":"2020-11-18T15:49:00","modified_gmt":"2020-11-18T15:49:00","slug":"lm-industries-raises-15m-in-new-funding-from-sparx-group-additive-manufacturing","status":"publish","type":"post","link":"https:\/\/facfox.com\/news\/lm-industries-raises-15m-in-new-funding-from-sparx-group-additive-manufacturing\/","title":{"rendered":"LM Industries raises $15M in new funding from SPARX Group Additive Manufacturing"},"content":{"rendered":"

LM Industries, the parent company of Local Motors \u2013 the first company to develop largely 3D print<\/a>ed EVs \u2013 raised $15 million from Mirai Creation Fund II (managed by SPARX Group Co., Ltd, the Japanese asset management firm). This financing will help Local Motors deliver Olli to customers and consumer<\/a>s who are seeking ways to redefine local mobility.<\/p>\n

\u201cLocal Motors has a unique advantage to quickly deliver impactful products that can revolutionize the automotive<\/a> and mobility industry,\u201d said Seiji Miyasaka, President of SPARX Capital Investments, Inc., a US subsidiary of SPARX Group and new Local Motors board member. \u201cAt a time when the world is changing faster than ever, we\u2019re thrilled to be working with a company that can evolve with it.\u201d<\/p>\n

This latest funding will be used to drive product development, production and deployment for Olli, the world\u2019s first 3D print<\/a>ed, electric, self-driving shuttle. Since entering series production for Olli 2.0, its latest iteration and the third generation of the Local Motors manufacturing line, the company has seen a significant resurgence in interest for safe and reliable transportation, recently deploying the first-ever Olli 2.0 at the AZ Maria Middelares hospital in Ghent, Belgium and delivering the first 2.0 in the United States to Jacksonville Transportation Authority at the AV-Test & Learn track at Armsdale. Next up is Toronto.<\/p>\n

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\u201cWe share a dream with SPARX Group to completely reimagine the mobility and automotive<\/a> industry, with the goal to truly move society forward in a profound way,\u201d said Jay Rogers, co-founder and CEO of Local Motors. \u201cDelivering innovative and locally relevant vehicle<\/a>s and mobility solutions has been at the core of our company from the beginning, and we look forward to pushing the industry to be a more clean, customer-centric business. SPARX\u2019s investment, which includes Toyota Motor Corporation and Sumitomo Mitsui Banking Corporation as seed LPs for the Mirai Creation Fund II, proves that our commitment to low-speed autonomy and digital manufacturing can make a direct impact in the world through cleaner manufacturing and better mobility experiences for all.\u201d<\/p>\n

Throughout the pandemic, Local Motors has continued to address the need for clean and safe autonomy. In July, the company announced a part<\/a>nership with Beep, the Florida-based Mobility-as-a-Service (MaaS) provider, with plans to deploy hundreds of autonomous vehicle<\/a>s in the coming years. Additionally, Local Motors made significant strides in validating the safety of its vehicle<\/a>s this year, proving that its 3D-printed structure performs at an equivalent level to traditionally manufactured vehicle<\/a>s during crash testing.<\/p>\n

\u201cOur part<\/a>nership with Beep, improved crash testing process, and distinct manufacturing method puts Local Motors in a unique position capable of meeting consumer<\/a>s\u2019 constantly changing needs around the world today and in the future,\u201d said Rogers. \u201cThis funding will help propel our vision forward, and continue making a difference in our communities.\u201d<\/p>\n

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Additive Drives GmbH secures \u20ac1.5M seed investment from AM Ventures: <\/a>\u201cAdditive manufacturing is becoming more mature and is increasingly opening up applications that are revolutionizing entire industries. Additive Drives is a perfect example of this. With dramatically accelerated development times and massive improvements in weight, volume and performance, this product will contribute to electrifying not only motorsports, aviation and micro-mobility.\u201d, says Arno Held, Chief Venture Officer at AM Ventures. Dr. Jakob Jung, CEO and co-founder adds: \u201cSince our foundation in July 2020 we have successfully entered the automotive market. Our vision is to halve the development time for electric motors and to expand our technological leadership in additive-manufactured electric motors\u201d.<\/p><\/blockquote>\n

* This article is reprinted from 3D Printing Media Network<\/a>. If you are involved in infringement, please contact us to delete it.<\/p>\n

<\/i> Author: Davide Sher<\/p>\n","protected":false},"excerpt":{"rendered":"

LM Industries, the parent company of Local Motors \u2013 the first company to develop largely 3D printed EVs \u2013 raised $15 million from Mirai Creation Fund II (managed by SPARX Group Co., Ltd, the Japanese asset management firm). 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