You can trust VideoGamer. Our team of gaming experts spend hours testing and reviewing the latest games, to ensure you're reading the most comprehensive guide possible. Rest assured, all imagery and advice is unique and original. Check out how we test and review games here Contents hide Cheating in Call of Duty continues to run rampant much to the annoyance of Black Ops 6 and Warzone fans attempting to load into the action. Despite the attempts of the games RICOCHET Anti-Cheat team, Warzone hackers and Black Ops cheaters are still slipping through the cracks in multiplayer and battle royale to gain an unfair advantage are high.The Season 2 update sees the return of some iconic weaponry to spice up the stale meta alongside significant changes to Ricochet anti-cheat designed to crack down on the number of hackers managing to slip through the net. Ahead of the new season, cheaters still showcase their lack of skills while promoting them to those looking to improve their gameplay using underhanded tactics.Warzone cheat promotion continuesTo demonstrate just how bad cheating in Call of Duty has got, X user SgtDangerCow found a TikTok stream of a hacker playing with the ability to see through walls.When active, the hacks showcase the outlines of nearby opponents along with a health bar so those using them have unprecedented intel before firing a bullet. As a result, they gain a huge advantage over legitimate players who dont possess the ability to see through buildings.Since Black Ops 6 was integrated into Warzone, hackers have overrun the battle royale. Whether its casual or competitive playlists, those using software to ruin the fun may not have much time left before stricter measures are implemented.Season 2 is make or break for WarzoneSeason 2 aims to deliver a wealth of bug fixes and adjustments to anti-cheat to turn the tide in the ongoing battle between Activision and cheaters managing to ruin the publishers biggest franchise. Call of Dutys player count has experienced a huge decline throughout Season 1 making the second post-launch update a significant moment.If the new anti-cheat features result in a huge reduction of hackers, the chances of Call of Duty recovering are high. If the update misses the mark, theres every possibility of the declining player count continuing to shrink.For more CoD, check out the best controller settings for maximum accuracy along with the best XM4 loadout dominating the meta.Subscribe to our newsletters!By subscribing, you agree to our Privacy Policy and may receive occasional deal communications; you can unsubscribe anytime.Share

Sim-ply LovelyRejoice, door-deleting murderers, The Sims 1 and 2 re-releases are reportedly arriving this weekEA's been teasing stuff as it celebrates 25 years of malevolent gods overseeing mysterious pool-related deaths.Image credit: Maxis / Electronic Arts News by Mark Warren Senior Staff Writer Published on Jan. 28, 2025 While they're currently focused on efforts to keep The Sims 4 chugging along, EA and Maxis reportedly have something nice for retro Sims fans in store as part of a celebration of the series' 25th anniversary - re-releases of the first two Sims games.This is according to Kotaku, which reports that it's heard EA will be putting these games out digitally on PC by the end of January - so, basically this week.To see this content please enable targeting cookies. The report adds that all of the original expansion packs for both The Sims and The Sims 2 are believed to be coming with the re-releases, which seemingly would include ones involving licensed tie-ins, such as the IKEA Home Stuff pack that allowed your sims to learn the wonders of Swedish flat-pack chairs.Kotaku claims that an item called "Nostalgia Now" that can be seen alongside the date range of January 27 to January 31 in a roadmap video for the 25th anniversary celebrations EA posted eariler this month refers to the re-releases. To see this content please enable targeting cookies.Just yesterday, the publisher shared another video via Twitter, this time showing a "time travel" option being selected in The Sims 2's action menu. The post was captioned "*~~BRB~~*", which I assume must stand for the conventional 'Be Right Back' or something in Simlish that sounds like words, but isn't. We'll just have to wait and Sul Sul.It's been very tough for people who can't rely on original physical disks to play the first two Sims games on PC for a good while now, so here's hoping that is about to get a lot more straightforward since they're both definitely worth re-visiting. Your relatives and/or children must learn that your sim-killing skills aren't just a Sims 3 and 4 thing - they've been well-honed over decades of deathly dedication.Make sure you check out our latest guides to The Sims 4, including every cheat you'll inevitably want to use to motherlode your way into being an even more powerful omnipotent deity that keeps telling video game people to stop playing on the computer and actually do something useful that'll level up their skills.

Don't Be So SicilyHomer might have been dead for almost 3000 years, but if he were still around I'm sure he'd be happy to see where Christopher Nolan is shooting his adaptation of The OdysseyAt least no one will have to worry about the weather!Image credit: Universal Pictures News by Oisin Kuhnke Contributor Published on Jan. 28, 2025 Christopher Nolan's next film after Oppenheimer is the ancient classic The Odyssey, and it's sounding like it'll be partially set exactly where Homer envisioned it.If you took Homer from the 8th century BCE and brought him to the modern day he'd probably have a panic attack so deep and intense it'd send him to the grave. But, assuming he actually managed to survive the whole ordeal, he'd probably be quite happy about Nolan's adaptation of his classic epic poem, The Odyssey, as according to Variety, the director is currently intending to shoot part of the film in Sicily, specifically on the island of Favignana (also known as "goat island" apparently). Why is this noteworthy? Well, it's believed that this very island is where Home imagined Odyssey landed with his crew to stock up on food.To see this content please enable targeting cookies. Variety also notes that the massive feature looks like to film across Sicily's Eolian islands too, though most of the Sicily shoot will be relegated to Favignana. This is all in addition to previously known shooting locations like the UK and Morocco, so clearly Nolan and the rest of the crew will be able to soak up some sun as they trot around the globe for his latest flick.So far, the film has attracted some big talent, including some of Nolan's previous collaborators like Matt Damon, Robert Pattinson, and Anne Hathaway, with actors like Jon Bernthal, Tom Holland, Zendaya, Lupita Nyong'o, and Charlize Theron working with the director for the first time.In the greater scheme of things we don't have to wait all that long for it either, as it's due out July 2026, next year. Nolan has clearly proven that he can put bums in seats even with lengthy historical dramas like Oppenheimer, so The Odyssey will be a test of sorts to see if he can do it again (he probably can).

With V-Ray 7s faster rendering, photorealistic materials, and powerful GPUs, the technical hurdles fade away, empowering you to build scenes faster, experiment freely, and push your creative boundaries.Effortlessly capture real-world locations in 3D as easily as snapping a photo with Gaussian splats, dropping highly detailed environments straight into your scene. Enjoy a new algorithm that eliminates fireflies automatically as you render, plus an updated Intel Open Image Denoiser, resulting in sharper and cleaner final images with less effort.V-Ray GPU for Maya and Houdini now supports Caustics, so you can render realistic lighting effects fast. Performance-wise, V-Ray GPU has also seen many improvements. This includes faster time to first pixel, even faster animation rendering, more efficient rendering of texture-heavy scenes, and a boost in performance thanks to new Metal support for Mac users. With enhanced V-Ray Sun and Sky and Light Path Expressions for shadows, V-Ray 7 gives you so much control over lighting and compositing. You can now render even more realistic natural daylight transitions, including nautical twilight. Plus, you also get even more control in compositing with LPEs for shadows.And this is just the beginning! Lets dive into the platform-specific features.V-Ray 7 for Maya: Key features and updatesOpen PBR supportWorking on a project that transitions between different applications like Autodesk Maya and Adobe Substance Painter? In the past, you might have had to tweak shaders repeatedly to maintain consistency between programs. With OpenPBR support, V-Ray 7 eliminates this hassle, ensuring your shaders maintain the same standard across platformsno rework required.Weve also ensured you can effortlessly create sophisticated effects within this shading standard. With a new layering scheme and an enhanced Sheen layer, you can easily craft complex, lifelike materials. From neon lights, dusty lacquered wood, and peach fuzz to velvet, satin, silk, and more, achieving realistic and intricate details has never been easier.Even more powerful VFBVFB enhancements in V-Ray 7 now offer even more creative control. You can create custom-shaped regions now, so you can isolate and render specific parts of your scene without re-rendering the whole thing. For example, you could just render a character's face to tweak the skin without rendering the entire environment, saving you a lot of time.To add to that, there's a new Vignette Layer for more artistic control, and new color correction presets built right in.More control with Chaos ScatterPopulating your scenes and art-directing your scatters just got easier with new, even more powerful Chaos Scatter controls. Objects can now automatically orient themselves towards a target, like palm trees leaning towards the sun thanks to the new Look at option. With Chaos Scatter, you can use splines as surfaces for scattering, so even more control over placement. The Falloff curve option gives you really precise control over things like altitude variance in vegetation, so you could create a super realistic landscape with just a few clicks.Chaos CosmosThe biggest new Chaos Cosmos feature is asset variants, which allows you to easily switch between different asset versions. For instance, if you're working with a tree model, you can instantly switch between a summer version with vibrant leaves and an autumn version to where they are beautifully falling. Additionally, there's multi-asset selection which lets you import tons of assets from Chaos Cosmos at the same time.V-Ray LuminairesWith support for V-Ray Luminaires complex light fixture assets available in our ever-growing Chaos Cosmos library, you can now achieve more physically accurate lighting faster and instantly elevate the quality and realism of artificial lights in your scenes.Extended USD supportV-Ray 7 for Maya supports the latest official version of MayaUSD 0.30.0. Weve also extended our support to include V-Ray Clipper alongside other enhancements to ensure seamless data exchange between V-Ray integrations.Learn moreV-Ray 7 for Houdini Davide ValvonaNew Volume ShaderV-Ray 7 for Houdini introduces powerful shading updates, starting with the new volume shaderan initial implementation that enables you to easily create amazing volumetric effects like clouds, smoke, and captivating atmospheres with magical effects that add depth and powerful storytelling to your scenes. You can build shading graphs to craft complex shaders and customize your effects, and enjoy greater control over your volumetrics in compositing thanks to light select support. Plus, the new volume shader renders up to x6 times faster.MaterialX support extendedYou can now create and render most MtlX procedural textures, including noises, patterns, and randomization options.Easier toon shadingWeve completely redesigned the toon shading workflow in V-Ray for Solaris to make it way more intuitive. If you want that classic look with the bold outlines and flat colors, it's easier than ever to achieve that. That's great news for anyone doing non-photorealistic, stylized work.Chaos Cosmos support in SolarisChaos Cosmos is fully integrated with V-Ray for Solaris now, so you have access to a massive library of assets including stones, vegetation, and other essential props. Users can populate their scenes with all those amazing models, materials, and HDRIs from Chaos Cosmos and make their stunning, immersive scenes with ease.VFB enhancementsV-Ray 7 also offers Houdini users some nice VFB enhancements, custom-shaped render regions, and color correction presets.Yeti cache support & Copernicus supportWith the new V-Ray yeti node, you can render Yeti cache files right in Solaris. So if you've created super detailed fur or hair grooms in another program like Maya, you can bring them straight into Houdini and render them without breaking a sweat. Plus, V-Ray for Solaris now supports Copernicus, a powerful procedural texturing tool, enabling more third-party plugin options and greater flexibility when working with V-Ray.Learn moreA whole new world of creative freedomWe've talked about a ton of new features in V-Ray 7 for both Maya and Houdini, but if we zoom out a bit and look at the bigger picture it's not just about the individual features themselves, but what becomes possible creatively when you combine them together.Artists can now create faster, experiment more freely, and really push their creative boundaries. V-Ray 7 is all about creative freedom. So what are you waiting for? Unleash your creativity and let the art, the story, and the fun of creation take center stage, while the technical fades away.Try nowGet started with V-Ray 7 for Maya & HoudiniTransform how you create.Get started

Image: Nintendo LifeThe latest distribution event is underway in Pokmon HOME, and this one is a prime opportunity to nab some extremely rare shinies if you've completed the necessary Pokdexes.All those who have completed the Sinnoh Pokdex from Brilliant Diamond and Shining Pearl can head to the Pokmon HOME app to redeem a Shiny Manaphy, while a Shiny Enamorus is available for anyone who has polished off Legends: Arceus' Hisui Pokdex.As pointed out by Serebii's Joe Merrick over on BlueSky, the Enamorus is Legends: Arceus marked, but comes in a Cherish Ball an item not available in the game. Curious!Subscribe to Nintendo Life on YouTube794kWatch on YouTube Serebii Update: Two new distributions of Shiny Manaphy & Shiny Enamorus have begun in Pokmon HOME.Get Manaphy for completing the Sinnoh PokdexGet Enamorus for completing the Hisui PokdexDetails @ www.serebii.net Serebii.net (@serebii.bsky.social) 2025-01-28T06:00:40.643ZIt's a pretty sweet reward, made even better by how difficult it has been to get your hands on either of these 'mon in the past. Until this distribution, Shiny Manaphy was only available via a trade from the Pokmon Ranger spin-off series. You could only nab one Manaphy per game, and there was no guarantee that it would be a shiny once traded so you'd have to reset your file if you ended up with a bland, normal version.Enamorus, meanwhile, has never had a shiny variant before, so this is your first chance to add it to your collection.The distribution kicks off what appears to be a pretty busy week for Pokmon. Trading Card Game Pocket is set to land two big additions in the coming days, with the long-awaited Trading feature landing today and the 'Space-Time Smackdown' expansion going live on the 30th. After that, it's all eyes on next month's Pokmon Day and its inevitable Presents showcase. Bring on the SmackdownAnd you know what that means...Have you managed to pick up either of the shiny 'mon in this distribution? Let us know in the comments.[source x.com, via bsky.app]Related GamesSee AlsoShare:01 Jim came to Nintendo Life in 2022 and, despite his insistence that The Minish Cap is the best Zelda game and his unwavering love for the Star Wars prequels (yes, really), he has continued to write news and features on the site ever since. Hold on there, you need to login to post a comment...Related ArticlesNintendo Expands Switch Online's SNES Library With Three More TitlesIncluding a special Super Famicom release...Opinion: My Daughter Made Me Realise That Mario Wonder's Difficulty Options Need WorkYoshi or Nabbit, make your choiceSega Launches Its Own Free Account Service With Unique Member RewardsSign up! Y'know, if you wantXenoblade Chronicles X: Definitive Edition Metal Poster Pre-Order Bonus RevealedAvailable now in the USCeleste Dev Makes "Difficult Decision" To Cancel New Game EarthbladeFollowing "a disagreement about the IP rights of Celeste"

Image: Phoenix LabsDeveloper Phoenix Labs known for its work on Fae Farm and Dauntless has announced that it has laid off "the majority of the studio", citing "unfortunate but necessary changes to our operations".The move follows a previous round of layoffs back in May 2024, during which "about 140" employees were affected. The new statement, posted on LinkedIn, mentions that updates regarding both Fae Farm and Dauntless will be provided in the coming weeks, but that the current focus is on "supporting those affected through this transition".Subscribe to Nintendo Life on YouTube794kWatch on YouTube Here's a look at the statement in full:"Today is another difficult day at Phoenix Labs. We have made the tough decision to part ways with the majority of the studio as part of unfortunate but necessary changes to our operations."We recognize and deeply appreciate the contributions of every individual impacted. Their talent, dedication, our games. We will share more details in the coming weeks about what this means for Dauntless and Fae Farm. For now, our focus is on supporting those affected through this transition."To our industry peers, we encourage you to reach out to these exceptional individuals - they are some of the business."Team members affected by the decision have since posted on BlueSky to provide further confirmation, including concept artist Kimberley Parker and senior tech designer 'ForgedPixels'.Just yesterday, we also reported that Ubisoft has laid off 185 employees across its European teams, with the decision extending to the full closure of its 'Ubisoft Leamington' studio in Leaminton Spa, UK. The "restructurings" continueWhat do you make of this news from Phoenix Labs? Did you play Fae Farm or Dauntless on Switch? Let us know with a comment.[source linkedin.com, via gamedeveloper.com]Related GamesSee AlsoShare:01 Nintendo Lifes resident horror fanatic, when hes not knee-deep in Resident Evil and Silent Hill lore, Ollie likes to dive into a good horror book while nursing a lovely cup of tea. He also enjoys long walks and listens to everything from TOOL to Chuck Berry. Hold on there, you need to login to post a comment...Related ArticlesSteam Deck Sales Business As Usual For Valve During Week Of Switch 2 RevealUpdate: Sales chart "updated" by ValveNintendo Expands Switch Online's SNES Library With Three More TitlesIncluding a special Super Famicom release...Opinion: My Daughter Made Me Realise That Mario Wonder's Difficulty Options Need WorkYoshi or Nabbit, make your choiceSega Launches Its Own Free Account Service With Unique Member RewardsSign up! Y'know, if you wantXenoblade Chronicles X: Definitive Edition Metal Poster Pre-Order Bonus RevealedAvailable now in the US

Few fusion startups have been as closely watched as Helion. The 12-year-old company is backed by Sam Altman, rumored to be in talks with OpenAI, and has a deal to supply Microsoft with electricity by 2028 years earlier than its competitors.The companys unorthodox approach to fusion power and relative secrecy has earned it plenty of fans and critics. But dont count its investors among the naysayers.Helion announced Tuesday a $425 million Series F raise that pushed its valuation $5.245 billion. The startup also flipped the switch last month on its latest prototype, Polaris, which it anticipates will be the first fusion reactor to generate electricity.Polaris, Helions seventh prototype, sits inside a 27,000 square-foot building in Everett, Washington. It took more than three years to build, which is quick by fusion industry standards. But to hit its ambitious 2028 deadline for Microsoft, the startup will have to move even faster on its commercial-scale power plant.The difficulties Helion faces are in many ways similar to those in other leading-edge industries. In AI, whats the big challenge? Getting the chips. In fusion, whats the big challenge? Getting the chips, CEO David Kirtley told TechCrunch in a recent interview. Polaris is 50,000 of these large-scale, pulse-power semiconductors, and getting those set the timeline.The solutions its seeking are similar, too. The new investment will go toward bringing a significant amount of specialized manufacturing in-house. For example, the company had to order a type of short-term energy storage device known as capacitors three years in advance.Our goal is to go from waiting three years for a supplier to give us capacitors to us making our own capacitors but faster, so now we can make them in a year or less, he said.Helion Energys facility in Everett, Washington. The startup plans to open the worlds first fusion power plant by 2028 to supply Microsoft with electricity.Image Credits:Mike Kane/Bloomberg / Getty ImagesDespite having to build a supply chain from scratch, Kirtley remains optimistic that Helion can still deliver electrons to Microsoft in just a few years.Weve been working on siting for the Microsoft facility for a few years already, Kirtley said. He declined to name a location, but said the company has been working on permitting and grid interconnection, a process that can take years.Part of Helions appeal and part of the risk, critics would argue is that its approach to fusion power differs from virtually every other startup in the sector.Generally speaking, there are two main approaches: Magnetic confinement uses powerful magnets to squeeze plasma to get it hot and dense enough to spark fusion reactions, which are meant to burn continuously to generate steam to drive a turbine. Inertial confinement fires powerful lasers at fuel pellets, compressing them to the point where the fuel atoms fuse. To generate enough heat to feed a steam turbine, a reactor has to fire several times per second.Helion is building something completely different, known as a field-reversed configuration reactor. The device looks like an hourglass with a bulge in the middle, and its ringed with powerful magnets, which guide and compress the plasma throughout the course of each reaction, which Helion calls a pulse.At the beginning of a pulse, Helion injects a mix of deuterium and helium-3 into each end and heats it until it forms a plasma. Magnets then shape each plasma into a doughnut and propel them toward each other at more than 1 million miles per hour.When the plasmas reach the fusion chamber the bulge in the middle of the hourglass they collide and are squeezed further by another set of magnets. This heats the plasma to more than 100 million degrees C, leading to a cascade of atoms fusing. Altogether, its similar to how a spark plug ignites fuel inside an internal combustion engine.The energy added by the fusion reactions generates a surge in magnetic force, which pushes back on the reactors magnets. This extra magnetic force is then converted directly into electricity. If everything works as intended, Helions reactor will generate more electricity from that magnetic burst than it needed to power the magnets in the first place. And because the system harvests electricity from magnets instead of generating steam to spin a turbine, it should be more efficient, lowering the bar to break even.The current design for a commercial-scale Helion reactor will pulse a few times per second, Kirtley said. A single reactor will generate 50 megawatts of electricity, and a power plant could contain multiple reactors.In the lab, the company has small systems that can fire over 100 times per second, so its possible that future Helion reactors will be able to fire 60 pulses per second, the same frequency as electricity on the grid. But theres some big engineering challenges to get to those high repetition rates at the kind of big pulse powers where we talk about millions of amps flowing around, Kirtley said.Helion raised the new funding to speed work on the power plant, including expanding in-house machining capabilities and capacitor manufacturing. One of the things that drove the Polaris timeline was actually making all the magnetic coils. And so I want to be able to make all of those in house, he said.The new round is smaller than the startups previous fundraise of $500 million. New investors in the round include Lightspeed Venture Partners, SoftBank Vision Fund 2, and a major university endowment. Existing investors Sam Altman, Capricorn Investment Group, Mithril Capital, Dustin Moskovitz, and Nucor also participated.

Microsoft is rolling out a new tool dubbed scareware blocker, which uses machine learning and computer vision to identify a very pervasive type of online scam. Scareware has blighted the web almost since its inception, often in the form of fake antivirus software that claims to have detected a non-existent threat on a users machine. They then either trick the user into installing a malicious program, or paying for software they dont need. Just last year, two tech support firms were forced to pay $26 million as part of a settlement with the U.S. Federal Trade Commission (FTC), which had accused the companies of deceptive marketing practices, including using fake Windows pop-ups, to scam consumers.These companies used scare tactics andlies about threats to consumers personal computers to bilk consumers, particularly older consumers, out of tens of millions of dollars, Samuel Levine, director of the FTCs Bureau of Consumer Protection, said in a statement at the time. Microsoft already offers some tools to block scammy websites that have been detected and reported elsewhere, but the new feature is all about blocking previously unknown scam tools when they attempt to open a full-screen page.Microsoft first teased the blocker at its Ignite conference in November, but now its calling on users to help test the feature through a preview program in its Edge browser.Setting upScareware blocker requires the user to activate the feature through the Privacy, search, and services setting in Edge.Activating scareware blockerImage Credits:MicrosoftThis adds an additional level of security to what exists within the likes of Microsoft Defender SmartScreen, which already looks for suspicious activity on web pages. Scareware blocker specifically intervenes if a scam tool attempts to open a full-screen page, a tactic that can make it more difficult both to identify a scam and circumvent it for example, a user might not know to hit the Esc key to exit full-screen mode.Microsoft said it used thousands of real-world sample scams to train the machine learning model that underpins scareware blocker. It then uses computer vision to compare these samples with new scams it encounters in real-time. If the tool suspects potential scareware, it will exit full-screen mode, stop any audio playback (e.g. an alarm or voice) that might accompany the scam, and give the user the option to continue to the page or close it completely.Scareware blocker in actionImage Credits:MicrosoftPrivacyThe fact that Microsoft is using computer vision to analyze users screens might raise concerns. There are some parallels with Microsofts controversial AI-powered Recall feature, which takes snapshots of users screens to create a searchable history of everything theyve done on the computer.However, with scareware blocker, Microsoft maintains that the machine learning model runs locally on the users machine, and nothing is saved or sent to the cloud.To improve the model and broader Defender SmartScreen software, Microsoft is also soliciting feedback from early adopters, presenting them an option to share a screenshot of the scam with Microsoft. Users can also report scenarios where scareware blocker makes a mistake and blocks a genuine website.

Our series on the state of investment in the 3D printing industry continues with a company uniquely positioned to understand the dynamics of the additive manufacturing investment landscape. I spoke with Arno Held, Managing Partner at Bavaria-based VC firm AM Ventures.AM Ventures roster of portfolio companies now stands at 20, with a fund of EUR100M raised to back industrial 3D printing ventures. In total 40 investments have been made, with some portfolio enterprises receiving multiple funding rounds. Investments include, DyeMansion, Conflux Technology, and Lithoz. While AM Ventures portfolio spans the globe, it is interesting to note that state capital Munich recently overtook Berlin in terms of startup fundraising for 2024. Perhaps the California of Europe vision of Minister-President of Bavaria Markus Sder for the region is nearing closer?During a conversation with the investing shot-caller and steward, the overarching narrative is clear: additive manufacturing has moved from a hype cycle to a more grounded, methodical growth phase. The shift from fund-anything-hardware to a more disciplined approach underscores the maturing of the additive manufacturing (AM) ecosystem, forcing companies to demonstrate real-world viability. Tightened conditions in the past 18+ months have forced many startups to pivot, seek emergency capital, or restructure. Yet, Held sees signs of renewed confidence by 2025. A post-reset landscape suggests that stronger companies, those that survived the downturn, are poised for healthy growth. This timing might offer investors opportunities at more rational valuations.Arno Held of AM Ventures. Photo via Tobias Hase.Read more in our State of Investing in 3D Printing series.Investing in industrial 3D printingAM Ventures was founded almost exactly a decade ago, in February 2015; since then, investors have shifted their attention to start-ups capable of demonstrating tangible results. We tend to look more into more mature businesses that have delivered more proof points than just ten pages of Excel and ten pages of PowerPoint, says Held. Years ago, nearly anything that looked and smelled and sounded like a 3D printer could secure funding, he observes. Today, backers insist on a more substantial track record; ideally, evidence of repeatability, quality output, and a concrete customer base. When I initially closed the fund in 2021, I thought that would be the happy end, says Held. Then I realized thats when the work really starts.This risk aversion has tightened due diligence requirements, with many funds no longer content to invest in unproven hardware concepts. Helds team increasingly expects an industrial partner, stable processes, and measurable production advantages. At the same time, opportunity pipelines have expanded. Founders now frequently submit business plans directly via the AM Ventures website, illustrating the brands prominence. A global network of conferences, academic partners, and portfolio firms continually feeds new leads, while corporate board participation allows insiders like Held to track emerging customer demands.Regional challenges persist. Asias share of emerging companies in additive manufacturing is growing, yet investors based in Europe or the United States struggle to evaluate teams in unfamiliar markets. The complexity of assessing foreign entrepreneurs capabilities and intentions creates uncertainty. Held says it is still extremely difficult for Western investors to judge these opportunities early.Data limitations also hinder strategic decision-making. While public forums, industry gatherings, and corporate relationships help identify fresh candidates, much expertise remains hidden inside large organizations. Held cites a German saying: If Siemens knew what Siemens knows. The implication is that while deep technical knowledge is scattered across the sector, few have found a systematic means to unearth it. Without direct insight, investors rely on partial information, instinct, and a network of trusted contacts, reinforcing the shift toward start-ups that can clearly prove their worth.Additive manufacturing startups need stronger internal competencies, such as the early hiring of a CFO to ensure sound financial navigation. Teams must also show maturity, foresight, and a willingness to engage with challenging what-if scenarios. Not every entrepreneur should take on venture capital; alignment between founders and investors is critical.The investment horizon spans years, with hardware typically requiring six years from R&D to reliable commercialization. Software, as well as application-focused ventures, can achieve progress more quickly, potentially in a timeframe half of that for hardware.Conflux Technology product group shot and liquid-liquid heat exchanger. Photo via Conflux TechnologyInvestment Trends in Additive ManufacturingMarket conditions have tightened, but recent signs point to renewed optimism by 2025, as both industry adoption and investor sentiment improve.Many businesses are shifting strategies to remain viable. AM Ventures Managing Partner, describes the situation as an interesting point in time to be an established venture capital investor in additive manufacturing, given the amount of emergency calls coming in from companies struggling to secure new capital. One portfolio firm recently raised $5 million but only after enduring around 200 meetings with prospective backers, a process Held describes as having consumed critical resources for months.Recent data shared by AM Ventures indicates a contraction in late-stage funding. The number of such rounds across the additive manufacturing sector appears to have fallen sharply, dropping from 142 observed late-stage rounds in 2021 to only 17 deals in 2023. Despite these figures, some renewed signs of activity have emerged. While the first half of 2024 the year offered little respite, Held says, Q3 felt a little bit like the turnaround point.In the broader German market, startups raised EUR 7.4 billion in 2024 according to KfW research, with a total of 144 exits.According to Held, metal-based additive manufacturing businesses have begun to demonstrate stronger fundamentals and attract greater investor confidence than their polymer-focused counterparts. Demand appears particularly robust in energy, transport, and infrastructure segments. Electrification, encompassing mobility on roads, rails, and in the air, along with oil and gas, now ranks among the key growth drivers for these technologies.Overall, early-stage investors have grown more selective, often expecting founders to show a track record of scaling revenues beyond initial prototypes. Series B rounds, typically well into a companys commercial development, have become increasingly rare. Yet this market reorientation also suggests that stronger companies able to demonstrate genuine production breakthroughs could ultimately emerge healthier from a period of protracted capital scarcity.Some investors have begun to acknowledge that past forecasts for additive manufacturing were overly optimistic. Additive manufacturing cannot solve all of the problems. Its not the ultimate weapon for everything. Early exuberance led to aggressive fundraising and lofty company valuations, some reaching revenue multiples in the hundreds. A prime example was the public listing of Desktop Metal, which Held cites as having gone public at a valuation of around $5 billion on revenues of approximately $25 million, creating 200x revenue multiples.Capital once flowed abundantly into hardware-centric ventures, often pushed by investors with a background in software. Held notes that these backers assumed startups would scale as quickly as digital platforms. When the market confronted the practical challenges of scaling manufacturing technologies, expectations began to reset rapidly. Held observes that while capital deployment became more difficult overall, the amplitudes in the United States are much, much more dramatic, so the highs are much higher and the lows are much lower, whereas in Europe, its a bit milder. Dry powder (uninvested funds) remains, yet investors now seem more cautious, rethinking valuations and focusing on business fundamentals instead of inflated growth projections.A section of the POLYLINE project with automated systems of Grenzebach, DyeMansion and EOS, located at the Additive Manufacturing Campus of BMW. Photo via DyeMansion.Picking the winners: how to get your 3D printing start-up fundedAM Ventures focus has increasingly shifted from generic hardware concepts toward ventures backed by solid operational structures. If a team has defined not only how they work together in the future, but also what happens if they separate ways, says Held, its a very good indication that they are pros.The people behind any start-up are paramount to an investment decision. Funding a team of recent graduates often involves waiting several years for technology to reach market maturity. In contrast, older entrepreneurs, or industry silverbacks with sectoral expertise, may be expected to secure early profits through niche products and then replicate success iteratively.A decade of experience has sharpened the criteria for evaluating investment pitches. Red flags include a lack of preparation, excessive spending, for example on legal counsel, at too early a stage, and presentations that reintroduce fundamental concepts, such as the workings of FDM printing, to a seasoned investor already immersed in the technology. Ultimately, the pitch deck serves as a proxy for how founders think and organize their priorities rather than as a definitive plan. A pitch deck is obsolete at the moment of investment, Held remarks. Its about understanding how these people structure their world. Early conversations are designed to test whether entrepreneurs will react constructively to setbacks and maintain the resilience necessary for sustained growth.The evaluation process involves mapping total addressable market size (TAM), serviceable market segments, and defining a path from a niche foothold to broader adoption. Meanwhile, IP filings, market adoption rates, and customer feedback help validate product relevance. Start-ups leveraging standardized machinery, materials, and softwareparticularly in well-defined application areasare considered primed for profit generation. This approach reflects investors preference for strong fundamentals over untested ideas, steering capital toward teams ready to manage the financial and operational demands of sustainable growth.The emphasis now is on a patient, knowledge-driven model that prioritizes proven expertise and strategic partnerships over unrealistic pledges of overnight breakthroughs.Consolidation and Opportunities on the horizonArtificial intelligence, particularly in parameter development, materials qualification, and quality assurance, is seen as a powerful enabler of productivity and innovation. The path forward involves integrating additive manufacturing into established production chains, leveraging external partnerships, and maintaining realistic valuations and growth expectations.Looking ahead, the firm sees reasons for cautious optimism. After more than 18 months of subdued activity, 2025 may bring renewed confidence. Held attributes this to improving conditions in core verticals and growing recognition that additive manufacturing, integrated into established value chains, can deliver sustained benefits.There are some really good signs that AM has been adopted by various verticals, Held notes, predicting that the easing of recent uncertainties, particularly those cited in US markets, may prompt stable growth. He suggests that for those already invested, and for newcomers to the sector, 2025 could present an opportunity to secure interests in promising companies at rational valuations, with realistic timelines and robust operational strategies.A perennial question of continued relevance is whether the 3D printing industry is consolidating. 2025 will be an exciting year for the AM industry. It started with lots of turmoil and incumbents focusing on themselves and sorting out their internal issues, says Held. I am confident that this year, we will also see the dust settling and high levels of consolidation activity to happen in the second half of the year. In contrast to horizontal diversification strategies of the past, we will see much more vertical integration through application-specific acquisitions.Dont miss the upcoming articles in our State of Investment in 3D Printing series; subscribe to the 3D Printing Industry newsletter.To stay up to date with the latest 3D printing news, follow 3D Printing Industry on LinkedIn.You can also find us on Twitter, and Facebook.The featured image shows Formnext Frankfurt. Photo by Michael Petch.Michael PetchMichael Petch is the editor-in-chief at 3DPI and the author of several books on 3D printing. He is a regular keynote speaker at technology conferences where he has delivered presentations such as 3D printing with graphene and ceramics and the use of technology to enhance food security. Michael is most interested in the science behind emerging technology and the accompanying economic and social implications.

Venture investment in the defense tech sector is up fourfold Since 2018, running at approximately $3.8 billion for the first three quarters of 2024 according to data presented by the FTs Innovation editor and founder of Sifted, John Thornhill. Geographically, 83% of the total is in the US and 15% in the EU and the UK.Historically, venture capital has shied away from investment in defense. This is due to an amalgamation of lengthy procurement cycles, complex regulatory environments, and misalignment with what might be summarized as venture-backablity. A smaller market of buyers in the form of governments and ethical concerns or restrictions on investment in weapon systems can be additional limiting factors. This latter dimension is under question given the Russian invasion of Ukraine, with some arguing there is now an ethical imperative to invest in the defense sector, and create partnerships with industry to ensure combat readiness.Professor Dame Fiona Murray of the NATO Innovation Fund (NIF) argues that philanthropic sources of capital increasingly target ventures with national security applications. We absolutely see people who feel a sort of patriotic duty to invest in some of these things, she noted during the Sifted Summit, referencing donations in areas ranging from food security to drone technology.Professor Dame Fiona Murray of the NATO Innovation Fund and John Thornhill at Sifted Summit 2024. Photo by Michael Petch.Our series on the state of investment in the 3D printing industry continues with this article drawing together a clear current theme, technologies application for the defense sector.Professor Murray discussed NATOs investment fund, which was officially launched in 2022 with 1 billion to promote defense tech in Europe. Murray is Vice Chair of the fund, backed by 24 NATO countries, and operates like a VC fund, although with a 15-year term, we are more patient, she says.NIF focuses on deep tech for defense, security, and resilience. Early investments include iCOMAT, which focuses on lightweight composite manufacturing, and Space Forge, which aims to benefit from micro-gravity manufacturing. Space Forges miniature space factory, the ForgeStar satellite, deploys for up to six months and returns crystals to Earth using reentry technology. One specific application is semiconductors for the next generation of computing.Silicon has effectively hit its fundamental physical limit, explained Space Forge CEO and co-founder Joshua Western during Sifted 2024. Gallium nitride (GaN) and silicon carbide (SiC) are critical materials for the coming compound semiconductors; both materials are incredibly difficult to produce. The combination of extreme temperature, microgravity, and high-purity vacuum conditions found in space yield a three to five order of magnitude improvement in the purity of the crystal.Beyond America, very few countries contribute meaningfully to the semiconductor value chain, explained the Space Forge CEO while remaining tight-lipped on the specifics of the NIF investment.Space Forge CEO and co-founder Joshua Western at Sifted Summit 2024. Photo by Michael Petch.On the subject of space launch options, Professor Murray cautions, What we dont want to happen is for every single country to try and have one of their own. Still, she believes a fully European resource for accessing space will be a critical part of future security infrastructure, alongside quantum sensing and other frontier technologies.In the broader VC world, concern over investment in dual-use technology with both military and commercial applications has created an unsatisfactory situation. Funds may prefer dual-use given the larger market, while those looking through a purely military lens prefer a specialised, mission-focused approach. Also speaking at the London VC event, Provizio CEO Barry Lunn advises a cautious approach to engaging with the defense industry, emphasizing the need to avoid becoming a design house for defense contracts.With a 2025 budget of $849.8 billion, the USA has the worlds largest budget and represents approximately 40% of global defense spending, but is not a participant in NIF. a decision attributed to its abundance of private capital and different historical approach to sovereign funds. Americas absence from the NATO Innovation Fund reflects a conscious choice by Washington, according to Professor Murray. While all 32 NATO nations participate in the Defense Innovation Accelerator for the North Atlantic (DIANA). We very proudly bear NATOs name, said Professor Murray. We are NATOs venture fund, but we do run it as a private fund.A defense market to rival the USA?European defence-technology firms often contend with scattered procurement procedures, in stark contrast to the United States, where the Pentagon acts as the single customer of first resort. Murray notes that in Europe, just because you have a contract from Estonia doesnt mean that you then can access all the other markets.She compares Europes approach to evaluating new medicines, where clinical evidence is accepted across multiple regulatory jurisdictions. Im hopeful that over time, we can do that in defence, she remarks, suggesting that innovations in smaller, nimble countries such as Estonia could then be scaled to larger markets like Germany and the UK.Professor Murray sees NATO as a key platform for harmonising standards across member states and enhancing interoperability. Its no good us all showing up on the battlefield if the systems cant talk to each other, she says. The eventual goal is to create a single market spanning Europe and the broader NATO alliance. According to Professor Murray, this aggregated base would rival the scale of the American defense marketoffering deep-tech companies a greater incentive to launch and expand on European soil.According to Professor Murray, private-sector companies are increasingly viewed as a pivotal sixth domain of warfare. She underscored that while businesses have long supplied militaries, todays conflict zones extend into financial services, hospitals, and power grids via cyber warfare. We need the technological edge, she said, explaining how a new wave of deep-tech firms is just as important as the large defense contractors of the past.Such emphasis on business-led innovation, especially under NATOs umbrella, stems from rising geopolitical pressures and the recognition that major security threats target civilian infrastructure. Professor Murray noted that the proliferation of startups with dual-use technologies has made managing export controls far more complex. Instead of a handful of companies needing to understand regulations, now 5,000 companies need to, she observed.Chinas approach to civilian-military fusion was also highlighted. Citing estimates that China leads in dozens of critical technologies, Professor Murray acknowledged that the countrys efforts are no longer purely reliant on acquired know-how. I think China is absolutely producing a lot of that knowledge frontier, she said. Yet she maintained that the West still holds a key advantage: the capacity to harness private capital and entrepreneurial zeal. She also pointed to the downturn in Chinas startup ecosystem as a signal that heavy government control can hinder growth.The conversation inevitably turned to the moral dilemma of investing in defense. Many institutional players have excluded weapon-related ventures from their ESG portfolios, fearing reputational risks. Professor Murray urged them to consider the strategic importance of security. Its almost impossible to have the space and opportunity to think about ESG if we dont have safety and security, she said, noting that her fund has extensive checks in place to ensure the responsible use of any technology it supports.She believes NATOs new approachbuilding deeper links with early-stage ventures, coordinating standards across multiple countries, and engaging more closely with institutional investorscould help Europe compete with the United States Pentagon procurement juggernaut. While the path forward is not straightforward, Professor Murray underscored the necessity of defending democratic values through technology. What I would say is that its almost impossible to stand by and let our ecosystems be eroded. We absolutely have to protect our values.Dont miss the upcoming articles in our State of Investment in 3D Printing series; subscribe to the 3D Printing Industry newsletter.To stay up to date with the latest 3D printing news, follow 3D Printing Industry on LinkedIn.You can also find us on Twitter, and Facebook.The featured image shows Sifted Summit London. Photo by Michael Petch.Michael PetchMichael Petch is the editor-in-chief at 3DPI and the author of several books on 3D printing. He is a regular keynote speaker at technology conferences where he has delivered presentations such as 3D printing with graphene and ceramics and the use of technology to enhance food security. Michael is most interested in the science behind emerging technology and the accompanying economic and social implications.