Divergent Technologies Secures $290M to Fuel Military Part Production Boom

Divergent Technologies Secures $290M to Boost Military Part Production In a significant development for the defense tech sector, Divergent Technologies has raised $290 million in funding to expand its production of specialized military parts. The investment values the company at $2.3 billion and underscores investor appetite for startups enhancing America's domestic manufacturing capabilities. According to sources, the round was led by undisclosed investors and included a mix of equity and debt financing, with $40 million allocated as debt. Divergent Technologies will use the new capital to expand its facilities in Los Angeles and break ground on a new factory in Oklahoma next year. The company's customers include major defense primes Lockheed Martin, RTX, and General Dynamics. "We're thrilled to have secured this investment, which will enable us to meet growing demand for our specialized components," said Lukas Czinger, CEO and co-founder of Divergent Technologies. "Our 3D printing technology allows us to produce up to 600 parts per year, including metal missile airframes – a critical component for the military." Czinger emphasized that metal missile airframes are the company's bread and butter, highlighting their expertise in producing complex components using advanced manufacturing techniques. The investment comes amid an ongoing surge in defense tech investing, driven by increasing demand for specialized military parts. Traditional supply chains have struggled to keep pace with this demand, leading investors to seek out startups like Divergent Technologies that can enhance domestic manufacturing capabilities. "Divergent's technology is a game-changer for the defense industry," said a spokesperson for Lockheed Martin. "Their ability to produce complex components quickly and efficiently will help us meet our customers' needs more effectively." The new funding will enable Divergent Technologies to expand its production capacity, meeting growing demand from major defense primes. As the company continues to innovate and invest in advanced manufacturing techniques, it is likely to remain at the forefront of the defense tech sector. In related news, the US Department of Defense has announced plans to increase investment in domestic manufacturing initiatives, citing the need for enhanced supply chain resilience. This development is expected to further boost demand for specialized military parts and drive growth in the defense tech sector. With its latest funding round, Divergent Technologies solidifies its position as a leading player in the defense tech industry, poised to meet growing demand for specialized components and drive innovation in advanced manufacturing techniques. *Reporting by Techcrunch.*