Technology startup Magnus Metal, situated in Tel Aviv, Israel, raised $74 million in Series B funding. Magnus Metal specializes in industrial, high volume digital casting for metal alloys.
Target Global and Entrée Capital led the round, with participation from Next Gear Fund, Essentia Venture Capital, Caterpillar Ventures, Tal Ventures, Deep Insight Ventures, Awz Ventures, Lumir Ventures, Discount Capital, Lip Ventures, Cresson Management, and others.
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With the money, the company plans to help its customers by growing both locally and internationally and developing its casting technology.
Magnus Metal, under the direction of CEO Boaz Vinogradov, is concentrated on the industrialization of innovative machines, parts, materials, and procedures. The company develops a variety of products, ranging from industrial, robotics, or tooling machinery to chassis and structural parts for vehicles, trucks, trains, and agricultural and construction equipment.
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The company has created Digital Casting TM, which combines the advantages of traditional casting and Additive Manufacturing without introducing the usual drawbacks. This allows for a more efficient supply chain, digital inventory, and distant manufacturing hubs.
About Magnus Metal
The MagnusMetal ground-breaking, patent-pending volume alloy Digital Casting System and method is bringing casting, a 6000-year-old technology, into the digital Industry 4.0 era.
