A startup founded by a pair of University of Michigan graduates has raised its first round of capital from a local venture group as it plans to anchor its headquarters in the Cincinnati region.
Voxel, an additive manufacturing company, recently closed $1.7 million in seed financing led by Avondale-based CincyTech.
The company announced the funding in conjunction with plans to open a new headquarters in the region. The team is still finalizing the exact size and location for the space.
Voxel is building a software platform that combines advanced mathematics and artificial intelligence to rapidly generate engineering designs in the additive manufacturing space – considered an industrial form of 3D printing.
The company said its approach eliminates guesswork and provides “performance leaps” for companies with significantly less cost, engineering time and iterations.
While its applications include defense, automotive, aerospace, medical and industrial, Aaron Chow, CEO and co-founder, previously told me the possibilities are endless.
Voxel in December was flagged by Cincy Inno as a “Startup to Watch” for 2023.
“We believe by fusing AI and additive manufacturing, we can provide a step change in how companies approach design and engineering problems,” Chow said in a release. “We aim to unlock manufacturing solutions previously undiscovered.”
Chow, a Cincinnati native, and Zach Beller, the company’s chief technology officer, co-founded Voxel in 2019. The two met while at the University of Michigan, where they both graduated with degrees in electrical engineering.
Chow has nine years of experience in the additive manufacturing space – working, consulting and advising for companies like Autodesk, Johnson & Johnson, Ethicon, Northrop Grumman, NASA, GE Aerospace and Aurolab.
Beller, who leads Voxel’s research and technical team, is currently a National Science Foundation Graduate Research Program fellow at the Georgia Institute of Technology, where he is a Ph.D. candidate in mechanical engineering. He is also on track to receive his master’s degree in mechanical engineering in July.
Voxel, prior to the seed financing, has been entirely self-funded. It's currently a team of four. Chow told me the funding will be used to further grow its core team, to set up its advanced manufacturing space and further develop its AI model.
CincyTech's research said additive manufacturing is growing at a 20% compound annual growth rate – and is an important element in a wave of post-pandemic reshoring efforts and future growth in U.S. advanced manufacturing capabilities.
While existing design methods and tools are optimized for pre-additive manufacturing methods, Voxel’s platform "unlocks the potential of current and emerging additive manufacturing production methods," it said.
“We were immediately drawn to Aaron and Zach’s passion and world-class expertise in additive manufacturing,” Doug Groh, partner at CincyTech, said. “Voxel's platform is another example of our growing portfolio that represent the upside of AI innovation.”
