How much funding has Alloy Enterprises raised?

Alloy Enterprises has raised $37M in total funding. Key investors include Piva Capital, Congruent, Riot.

Who is the CEO of Alloy Enterprises?

Ali Forsyth is the CEO of Alloy Enterprises. The company was founded in 2020.

Where is Alloy Enterprises located?

Alloy Enterprises is headquartered in Burlington, Massachusetts, USA.

What funding stage is Alloy Enterprises at?

Alloy Enterprises is currently at the Acquired stage.

How many employees does Alloy Enterprises have?

Alloy Enterprises has approximately 11-50 employees.

Alloy Enterprises

Name: AM Companies Database
Creator: AMPulse
License: https://creativecommons.org/licenses/by/4.0/

HardwareBurlington, Massachusetts, USAFounded 2020· One of 1708 Hardware companies tracked by AMPulse

Revolutionary aluminum 3D printing without powder using laser cutting and diffusion bonding

CEO / Founder: Ali Forsyth
Team Size: 11-50
Stage: Acquired
Total Funding: $37M
Latest Round: Series A
Key Investors: Piva Capital, Congruent, Riot

Technology & Products

Key Products

Custom thermal management solutions using patented Stack Forging™ technology for E-Mobility, Heavy Equipment, Industrial Products, and Semiconductor industries.

Technological Advantage

Proprietary combination of laser cutting and diffusion bonding for aluminum

Differentiation

Value Proposition

First aluminum AM process without powder - cost-effective production volumes with 3D printing advantages

How They Differentiate

Powder-free process enables faster, safer, more cost-effective aluminum production

Market & Competition

Target Customers

Automotive, industrial, and heavy equipment manufacturers

Industry Verticals

Automotive, Industrial, Heavy Equipment

Competitors

Desktop Metal, Velo3D, EOS

Growth & Milestones

Growth Metrics

Went from invention to commercial sales in under 2 years, Fortune 100 customers

Major Milestones

2020: Founded, Early funding $4.3M from Congruent and Riot, 2023: $26M funding from Piva Capital, Production with Fortune 100 customers

Notable Customers

Leading data center, industrial, and military customers.

https://alloyenterprises.co

Recent coverage of Alloy Enterprises

Johnson Controls has entered a definitive agreement to acquire Boston-based Alloy Enterprises, with the transaction expected to close in the third quarter of 2026.Apr 15, 2026

Why this company matters

Alloy Enterprises addresses a persistent gap in metal additive manufacturing: the high cost and safety concerns of aluminum powder. Its Stack Forging process substitutes powder with laser-cut aluminum foils that are stacked and diffusion-bonded into solid parts, a method the company claims is faster, safer, and more economical for production volumes than powder-bed fusion approaches from competitors like Desktop Metal, Velo3D, and EOS.

The core technology combines laser cutting to shape individual foil layers with diffusion bonding to fuse them into near-net-shape components. Alloy Enterprises targets the $75 billion aluminum fabrication market, focusing on custom thermal management solutions for e-mobility, heavy equipment, industrial products, and semiconductor applications. The company reports Fortune 100 customers in data center, industrial, and military verticals, and has moved from invention to commercial sales in under two years.

Founded in 2020 by Ali Forsyth, formerly an engineering manager at Desktop Metal, Alloy Enterprises has raised $30.3 million from investors including Piva Capital, Congruent, and Riot. Its powder-free approach reduces explosion risk and material waste, but the company must prove that foil-based diffusion bonding can match the geometric complexity and throughput of established LPBF systems for high-volume aluminum production.

A key open question is whether Stack Forging can scale beyond thermal management parts into structural applications where powder-bed processes already hold certification in aerospace and automotive. Alloy Enterprises' partnership with Congruent and Riot suggests an emphasis on capital-efficient scaling, but the technology's adoption will depend on cost-per-part benchmarks against both conventional fabrication and incumbent AM methods.