Cold spray additive manufacturing company Titomic, Australia, announced it raised $5.1 million through a share placement, including $2.2 million from its existing strategic investor and joint venture partner Repkon.
Titomic Directors Herbert Koeck and Dag Stromme were also significant investors in the round, it said.
Managing Director Koeck told investors that the new funds would give Titomic “an ability to continue to execute on joint ventures, machine sales, workflow solutions, application development and reseller opportunities.”
He added that Repkon’s “additional strategic investment builds on our strong relationship, with JV and reseller agreements in place, as we move forward with the integration of Titomic’s TKF process and Repkon’s flowforming capabilities for the production and distribution of high-performance barrels in the defense sector.”
Image – Courtesy of Titomic.
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