Fast Radius

Company looks to take the lead in the cloud-based manufacturing and supply chain segment.

Fast Radius, a leading manufacturing technology company, has announced its Series B financing round of $48 million led by UPS, with strong insider participation from Drive Capital.

Lattice materials can be used to manufacture stronger yet lighter objects through the technique of additive manufacturing. A good place to start would be the automobile industry, which could do well with reducing its dead weight for improved fuel efficiency.

January’s World Economic Forum (WEF) white paper identified 16 factories that are leading the world economy in manufacturing technology. The United States has only one of these “lighthouse” facilities – Fast Radius’s Chicago factory, located in the city’s West Loop.

“It’s not just about cars and satellites and cereal,” says CEO Lou Rassey. “It’s about feeding and empowering the world with the things we make. That’s the heart of Fast Radius.”