What's Happening in Duluth, GA…

A Simple Agreement for Future Equity (SAFE) raise has been closed by WEAV3D Inc. of Norcross in the amount of $1 million.

Such announcements are often made known throughout an industry with mailers created by many kinds of printing services.

This was made possible by a partnership with Propel(x), Entuitive, and the Castellan Group and will enable the company to expand its sales and engineering teams so that it can increase its commercialization activities over the next year. WEAV3D is an innovator in composite materials, manufacturing processes and processing equipment.

Founder of the Castellan Group, Scott Smith, said his firm is thrilled to be partnering with WEAV3D as his firms believes that it will be able to drive sustainable benefits for both the environment and businesses and transform many important industries. The Castellan Group is an investment advisor and multi-family family company.

This funding is in addition to a Small Business Innovation Research (SBIR) Phase II grant from the National Science Foundation of close to $1 million that will increase the production throughput of the continuous composite forming machine process of WEAV3D through design, fabrication, and testing of updates to its ultrasonic welding equipment. The process enables the creation of lightweight structural composite parts that cost much less and have a reduced cycle time as compared with more traditional composite manufacturing.