ARRIS, an advanced manufacturer with technology that enables high-performing fiber-reinforced composites at scale, announced that it has raised $34 million in its latest fundraising round. This funding 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).
The funding will be used to build on ARRIS’ success in scaling its global operations. Earlier this year, ARRIS launched a line of next-gen carbon fiber bicycle spokes that are 2.7x stronger gram for gram than the best aero spoke in the market today. In the summer of 2024, an industry-leading bicycle brand will release one of its award-winning bicycles featuring an ARRIS bracket.
The company’s growth is driven by 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.
Launched in 2017, the ARRIS Technology team launched 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. And the new levels of product performance are now possible with an advanced manufacturing platform, enabling continuous fiber-reinforced thermoplastic composite structures that are lighter and more sustainable.
KEY QUOTES:
“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.”
- 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. We see the expansive potential in cutting-edge composites and look to ARRIS for novel product differentiation.“
- Rae Eun Sung, Group Vice Chairman and CEO of Youngone Holdings
