Burnley-based tech firm FDM Digital secures £300k investment

3D printing tech company FDM Digital Solutions is set to unlock growth after securing £300k from investors.

The Burnley-based firm, which produces components for organisations in fields such as aerospace and Formula One, was awarded the six-figure boost through the North West Fund for Venture Capital and Lancashire’s Rosebud Finance, both of which are managed by lender Enterprise Ventures.

FDM’s chief executive, Graeme Bond, said: “The funding we have received has put us ahead of the field by allowing us to invest in the very latest technology.

“We are committed to driving the uptake of digital manufacturing technology in industry and believe the key is working closely with selected customers to educate them on the benefits.”

The latest funding boost follows £860k secured from the North West Fund and Rosebud Finance two years ago.

Peter Rooney, an investment manager at Enterprise Ventures, commented: “FDM Digital’s team combine practical engineering knowledge with computer design skills and have a deep understanding of the technological capabilities of 3D printing.

“This has made them a partner of choice for manufacturers that are turning to 3D printing to develop innovative new products and re-engineer existing products.”

He continued: “Our investment has been critical in supporting the rapid growth of the business over the past two years and will allow it to continue expanding.”

County Cllr Niki Penney is the chair of Lancashire County Developments Ltd, which is part of the authority’s Economic Development Service.

Commenting on the funding boost, she said: “Lancashire has a world-class advanced manufacturing sector and it’s a sector we’re very keen to support.

“There’s great potential for new technology, such as 3D printing, to create new jobs right here in Lancashire. It’s a growing area and we’re pleased to support this exciting area of FDM’s work.”

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