Arevo, the Silicon Valley company behind the Superstrata custom 3D printed bike concept, raised $25 million in a Series B financing round, led by Defy Partners and GGV Capital with participation from Khosla Ventures, Alabaster and others. This will bring its total funding to $60 million.
Defy appointed Brian Shin, serial entrepreneur, investor and Defy Scout, to join Arevo’s Board which includes Hemant Bheda (Co-Founder), Sonny Vu (CEO) and Bruce Armstrong (Khosla).
The funding comes as Arevo launched its first high-speed additive manufacturing system for large continuous carbon fiber composite structures
“Arevo’s new platform enables fabrication of high-strength, low weight carbon fiber parts, currently not possible with today’s standard techniques,” said Trae Vassallo, founding partner at Defy. “We are thrilled to be working with the team to help scale up this incredibly impactful technology.”
“Arevo is a compelling opportunity for us as it combines our three main investment foci: consumer internet, enterprise, and smart tech. We see fantastic potential in this market and have backed Sonny before at Misfit. Arevo is led by an experienced team with solid technological foundation and 3D printing manufacturing know-how at scale to offer breakthrough products at competitive prices,” said Hans Tung, a managing partner at GGVC.
“We are excited to have Defy and GGVC on board to bring not only capital but a vast amount of strategic experience. The strong interests in the company despite tough market conditions really reaffirm our vision,” said Hemant Bheda, Arevo’s co-founder and chairman.
Photo courtesy Superstrata
