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ARRIS® SECURES ADDITIONAL $34M IN FUNDING TO FUEL GROWTH WITH NEW STRATEGICS IN AEROSPACE & CONSUMER MARKETSNext-Gen Manufacturing Platform Goes Mainstream with Scaled Global Operations: BERKELEY, Calif., April 30, 2024 /PRNewswire/ -- ARRIS®, an advanced manufacturer with a breakthrough technology enabling the highest-performing fiber-reinforced composites at scale, today announced that it has raised $34 million in its latest fundraising round. Next-Gen Manufacturing Goes Mainstream: ARRIS Technology Powers Up with New Strategics in Consumer and Aerospace Markets The round saw participation from new and returning investors, including ST Engineering, Zebra Technologies, Youngone, Standard Industries, Vertex Exploratory Fund, NEA, XN, Taiwania Capital, Bosch Ventures, Modern Venture Partners (MVP), and Alumni Ventures Group (AVG).
Funding will be used to build on the ARRIS' success in scaling its global operations.
"The use of composite structures in aerospace applications offers a compelling combination of weight savings, strength, durability, and environmental sustainability. Through our investment in ARRIS, we will jointly develop innovative composite products that elevate ST Engineering's aerospace solutions, providing more value add and benefits to our customers," said Jeffrey Lam, President of Commercial Aerospace at ST Engineering. "ARRIS' dedication to hard work, innovation, and sustainability aligns with our foundational principles—we take pride in our reputation as a continuous pioneer, and ARRIS is on a similar path," said Rae Eun Sung, Group Vice Chairman and CEO of Youngone Holdings. "We see the expansive potential in cutting-edge composites and look to ARRIS for novel product differentiation." Founded in 2017, the ARRIS Technology team created a new manufacturing category called Additive Molding by pioneering the development of patented software, materials, and high-volume production methods that prioritize specific stiffness and strength. New levels of product performance are now possible with this first-of-its-kind advanced manufacturing platform, enabling continuous fiber-reinforced thermoplastic composite structures that are lighter and more sustainable. ARRIS ranked as one of Fast Company's "10 Most Innovative Manufacturers" and has earned the BIG Innovation Award four years straight from the Business Intelligence Group—the most recent award announced in 2024 recognizes ARRIS MTO Spokes (Made To Outperform®). Learn more at arriscomposites.com. ABOUT GENERAL INQUIRIES MEDIA INQUIRIES MEDIA KIT View original content to download multimedia:https://www.prnewswire.com/news-releases/arris-secures-additional-34m-in-funding-to-fuel-growth-with-new-strategics-in-aerospace--consumer-markets-302130714.html SOURCE ARRIS Composites, Inc. |