Diamond Age to Sell Assets in New Online Auction
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Assets from construction 3D printing company Diamond Age have been put up for sale in an online auction.The extensive listing features 353 lots ranging from office chairs, desks, air conditioning units, TVs, and filing cabinets, to cranes, custom assembly lines, Fanuc robotic arms with controllers, and an AXYZ 4010 CNC Router Machine.The breadth of the auction has raised questions over the Arizona-based companys future after it successfully raised $58 million in two funding rounds between 2021 and 2022.The online-only auction, delivered by Silicon Valley Disposition, will run from January 28-30. All items are being sold as is, with no option for returns, exchanges, buybacks, or refunds. Full listing details can be viewed hereDiamond Ages Machine Guardian Cage is up for sale in the asset auction. Photo via Silicon Valley Disposition.Diamond Age to execute major asset saleDiamond Age was founded in 2018 to address the US housing markets single-family home shortage. It sought to build a suite of 26 end-of-arm robotic tools that integrated 3D printing, mechatronics, and robotics capabilities.This Robotic-as-a-Service (RaaS) system was designed to automate construction processes, reportedly offsetting more than half of the manual labor needed to build new homes. The construction 3D printing technology seeks to cut cycle time from nine months to just 30 days. Ultimately, the aim was to turn home building into an on-demand product, unlocking greater customization when designing homes.This value proposition has attracted interest from investors. In 2021, Diamond Age raised $8 million in a seed funding round. This capital was used to advance its robotic 3D printing capabilities and build a 1,100-square-foot demonstration house.Prime Movers Lab and Alpaca VC led the funding round, which also drew participation from Dolby Family Ventures, Calm Ventures, Gaingels, Towerview Ventures, GFA Venture Partners, and Suffolk Construction. At the time Suzanne Fletcher, General Partner at Prime Movers, stated that Diamond Age is building a truly transformative system that will change the buying and building of new production homes forever.Diamond Ages robotic 3D printing gantry system. Photo via Diamond Age.Following this investment, the construction 3D printing firm continued to gain momentum. Diamond Age scaled up the build envelope of its robotic technology, allowing it to 3D print a 2,000-square-foot single-story home.Soon after, the first full-scale system was successfully delivered to a customer, and a three-bedroom, two-bathroom house was constructed four months ahead of schedule. In 2022, this success saw the company secure $50 million in a Series A funding round led again by Prime Movers Lab. It also secured its first-ever contract with a national homebuilder.Another significant update from Diamond Age came in December 2023, when the company announced an agreement to 3D print military bunkers to aid Ukraines war efforts. Under the partnership with Ukraines Ministry of Strategic Industries (MSI), the construction firm aimed to complete the bunkers within six to nine months.At the time, Diamond Age claimed that the agreement would allow the company to seek funding for additional 3D printed bunkers. However, just over a year later, the company appears to be conducting drastic cost-cutting efforts at its Phoenix facility.Amid the comprehensive array of office equipment, furniture, tools, and other amenities, the auction listing features several items of industrial equipment. Notably, five Fanuc M-710iC/70 Robots with R-30iB Plus controllers and a Fanuc M-900iB Robot with R-309B Plus controller feature in the listing. Several Keyence SZ-VH1X scanner heads, used for industrial health and safety, are also included alongside machine guardian cages, conveyors, assembly lines, and CNC machinery.Diamond Ages Fanuc M-900iB 90 Robot with R-309B Plus Controller. Photo via Silicon Valley Disposition.3D printing asset auctionsDiamond Age is the latest additive manufacturing company to auction off assets. A 3D printing trends survey conducted in early 2024 revealed a common consensus among industry experts: business consolidation and asset reductions are being driven by ongoing challenges within the sector.This was reflected at the end of last year when industrial manufacturing service provider Zeda, Inc. put $20 million worth of its assets up for sale in a 3D printing asset auction. The sale, running until January 22, features industrial 3D printers from the companys 75,000-square-foot manufacturing facility in Springdale, Ohio. These include four Velo3D Sapphire metal 3D printers, four AddUp FormUp 350 LPBF machines, and a GE Additive Arcam EBM Q10plus Electron Beam Melting System.The auction came as a surprise. Zeda appeared to have been performing well, having raised $52 million in Series B funding in March 2023. Following this, the firm invested $20 million in new equipment for its Springdale facility. However, the listing describes the assets as Very Low Hour Equipment, indicating the machinery has seen minimal use and remains in excellent condition.Elsewhere, February 2024 saw 3D printing service provider Shapeways auction off $5 million of Desktop Metal 3D printing hardware. This included P1 Production System 3D printers, Shop System binder jet 3D printers, BMD 3D printers, powder stations, powder blenders, sintering furnaces, and drying ovens.This auction followed Shapeways poor financial performance since its $605 million SPAC deal with Galileo Acquisition Corp (GLEO) in 2021. At the time, the company was valued at $410 million, generating $195 million in net proceeds. However, the company soon began to underperform, generating just $8.4 million in revenue and $3.4 million in gross profit by Q3 2023. Cost-cutting measures followed, including a 5% workforce reduction. By July 2024, Shapeways bankruptcy was confirmed. However, Shapeways re-launched as Manuevo BV, which purchased the companys additive manufacturing assets soon after.Diamond Age has been contacted for comment, this article will be updated if a reply is received.Who won the 2024 3D Printing Industry Awards?All the news from Formnext 2024.Subscribe to the 3D Printing Industry newsletter to keep up with the latest 3D printing news.You can also follow us on X, like our Facebook page, and subscribe to the 3D Printing Industry Youtube channel to access more exclusive content.Featured image shows Diamond Ages Fanuc M-900iB 90 Robot with R-309B Plus Controller. Photo via Silicon Valley Disposition.
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