VulcanForms, a Devens-based metal manufacturing company, has secured its second-largest funding round to date, raising $220 million to expand the company’s manufacturing facilities.
Get Instant Access to This Article
Subscribe to Worcester Business Journal and get immediate access to all of our subscriber-only content and much more.
VulcanForms, a Devens-based metal manufacturing company, has secured its second-largest funding round to date, raising $220 million to expand the company’s manufacturing facilities.
“This financing enables us to meet surging demand and expand our role as a critical partner to companies rebuilding resilient domestic supply chains,” VulcanForms CEO Kevin Kassekert said in a Friday press release.
VulcanForms’ latest round of Series D funding will support the firm’s mission to consolidate the multi-step metal manufacturing supply chain system with U.S. factories, aiming to reduce cost, waste, and cycle time, according to the release.
Additionally, the firm’s new capital will go toward research and development to bolster its materials portfolio and support future growth.
The firm’s $220 million was raised from five investors, including primary backers 1789 Capital of Florida and Eclipse Ventures of Palo Alto, according to private company financial tracker Crunchbase.
“1789 Capital is thrilled to support VulcanForms, a company revitalizing America’s industrial strength and sharply reducing our dependence on foreign suppliers,” Omeed Malik, president of 1789 Capital, said in the release. “By restoring high-skilled manufacturing jobs to American soil, VulcanForms is helping to drive the next great chapter of American prosperity.”
Donald Trump Jr. joined 1789 Capital as a partner in November 2024 shortly before his father started his second term as U.S. president. 1789 Capital has a history of investing in conservative businesses, according to CNN, including investing $15 million in Tucker Carlson Network, the media company of far-right political commentator Tucker Carlson.
VulcanForms has undergone six rounds of investor funding, according to Crunchbase. The firm’s largest round was on July 5, 2022, when it raised $250 million. The company has raised a total of $575 million.
“Rebuilding America’s industrial capacity requires bold engineering and the ability to manufacture at scale, and VulcanForms has proven it can deliver both,” Greg Reichow, partner at Eclipse, said in the release. “Their platform brings production of mission critical components back onshore with unmatched precision, speed, and reliability. Eclipse is proud to back a team that is delivering real industrial output today while shaping the future of American manufacturing.”
Mica Kanner-Mascolo is a staff writer at Worcester Business Journal, who primarily covers the healthcare, manufacturing, and higher education industries.
