ARRIS® SECURES ADDITIONAL $34M IN FUNDING TO FUEL GROWTH WITH NEW STRATEGICS IN AEROSPACE & CONSUMER MARKETS

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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.

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PR Newswire

Retrieved on:

Tuesday, April 30, 2024

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Tags:

Shoe, RFID, AVG, Brooks Sports, Business intelligence, Standard Industries, Transport, NEA, XN, MVP, Zebra Technologies, Hyperion, ST Engineering, Growth, Engineering, 3D printing

Geotags:

CALIFORNIA, ST

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Organisation:

ARRIS COMPOSITES, ARRIS COMPOSITES, INC.

Summary

Key Points:

People benefit from the capabilities of ST Engineering nearly every day—one of the largest independent providers of commercial airframe maintenance services in the world.
People experience the continuous innovation of Youngone nearly every day—the pioneering company works with major consumer brands focusing on outdoor/athletic apparel, materials, gear, and footwear.
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.

ARRIS® SECURES ADDITIONAL $34M IN FUNDING TO FUEL GROWTH WITH NEW STRATEGICS IN AEROSPACE & CONSUMER MARKETS

Next-Gen Manufacturing Platform Goes Mainstream with Scaled Global Operations:
ARRIS^® Technology Powers Up for Accelerated Adoption in Key Markets

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).

People benefit from the capabilities of ST Engineering nearly every day—one of the largest independent providers of commercial airframe maintenance services in the world.
People interact with Zebra Technologies nearly every day—the enterprise solutions company is a market leader in barcode printers, scanners, RFID readers, and mobile computing solutions for customers throughout the supply chain, including retail, manufacturing, and transportation and logistics companies.
People experience the continuous innovation of Youngone nearly every day—the pioneering company works with major consumer brands focusing on outdoor/athletic apparel, materials, gear, and footwear.

Funding will be used to build on the ARRIS' success in scaling its global operations.

In November of 2023, Brooks Running revealed the Hyperion Elite 4 performance running shoe featuring a cutting-edge ARRIS carbon fiber plate. Following the product release of Hyperion Elite 4 in February 2024, the highly reviewed shoes are in high demand.
In January 2024, ARRIS launched a line of next-gen carbon fiber bicycle spokes that are 2.7x stronger gram for gram than the best-in-class aero spoke in the market today.
In the summer of 2024, an industry-leading bicycle brand will release one of its top, award-winning bicycles that features an ARRIS bracket.

Fueling the company's growth includes continued performance-driven innovation, strategic go-to-market initiatives, and the expansion of ingredient brand partnerships with an emphasis on expanding consumer products (e.g., footwear, bicycles, portable electronics) and aerospace applications.

"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

ARRIS^® Technology enables unmatched performance with a patented advanced manufacturing technology platform that prioritizes specific stiffness and strength in novel ways for footwear, bicycles, portable electronics, automotive, aerospace, and industrial markets. Team ARRIS® created a new manufacturing category called Additive Molding, a first-of-its-kind software, materials, and high-volume production approach to continuous fiber-reinforced thermoplastic composite structures.

Get the latest at arriscomposites.com/news.

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SOURCE ARRIS Composites, Inc.