Arris Composites has announced it has raised USD 48.5m in a series B funding round led by Taiwan Capital, the company said.
Also participating in the funding round were return investor New Enterprise Associates (NEA), which led Arris Composites´ USD 10m Series A round in January 2019, alongside Valo Ventures and Alumni Ventures Group (AVG), the company said.
Arris will be expanding its proprietary composite manufacturing capabilities and opening facilities in the US and Taiwan, the latter to serve the demand of the consumer electronics industry.
Arris Composites enables the mass-production of high-strength and light-weight composite parts through its proprietary Additive Molding manufacturing technology. With this new process, advanced carbon fiber materials can be produced at the same speed as plastic molded products.
Arris Composites provides next-gen composites for mass-market applications, including aerospace, automotive and consumer products.
Taiwania Capital is a venture capital firm founded in 2017 with funding support from the Government of Taiwan that manages two funds, totaling USD 350 million, focused on emerging technology and early-stage biomedical companies.
New Enterprise Associates, Inc. (NEA) is a global venture capital firm focused on helping entrepreneurs build transformational businesses across multiple stages, sectors and geographies.
Valo Ventures is a mission-driven venture capital firm, investing in a brighter future by championing innovative digital technology companies that create economic value as well as long-term social and environmental benefits.
Alumni Ventures Group (AVG) is comprised of leaders from top universities with deep ties to students, alumni and professors. LP capital pools are associated with specific universities and investments are focused on high-potential student-founded companies.