How much funding has NanoSteel raised?

NanoSteel has raised $50.7M in total funding. Key investors include GM Ventures; EnerTech Capital; Fairhaven Capital Partners; Lear Corporation; SPDG; Chrysalix Venture Capital.

Who is the CEO of NanoSteel?

David Paratore is the CEO of NanoSteel. The company was founded in 2002.

Where is NanoSteel located?

NanoSteel is headquartered in Providence, RI, USA.

What funding stage is NanoSteel at?

NanoSteel is currently at the Active stage.

How many employees does NanoSteel have?

NanoSteel has approximately 51-200 employees.

NanoSteel

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

MaterialsProvidence, RI, USAFounded 2002· One of 961 Materials companies tracked by AMPulse

Designs and commercializes patented nanostructured steel alloys for additive manufacturing (metal powders) and automotive lightweighting (sheet steel), delivering exceptional strength, ductility, and wear resistance.

CEO / Founder: David Paratore
Team Size: 51-200
Stage: Active
Total Funding: $50.7M
Latest Round: Venture Round
Key Investors: GM Ventures; EnerTech Capital; Fairhaven Capital Partners; Lear Corporation; SPDG; Chrysalix Venture Capital

Technology & Products

Key Products

BLDRmetal™ powders for binder jetting; Tool steel powders for laser powder bed fusion (LPBF); Nano-structured sheet steel for automotive; Engineered powders for shot peening/HIP

Technological Advantage

Patented nanostructured steel alloys enable crack-free 3D printing of high-hardness parts (99.9% density vs. industry ~98%) and automotive sheet steel with 2-3x higher strength-to-weight ratio, protected by 400+ patents worldwide.

Differentiation

Value Proposition

Reduces production costs by enabling crack-free 3D printing of high-hardness steel parts (99.9% density) and cuts automotive weight by 20-30% via ultra-high-strength sheet steel, accelerating adoption of AM for wear-resistant applications.

How They Differentiate

Achieves 99.9% density in crack-free steel powders vs. Modumetal's laminated nanostructures; offers broader alloy portfolio for binder jetting/LPBF than QuesTek's integrated design; 30% higher wear resistance than conventional tool steels per customer benchmarks.

Market & Competition

Target Customers

Industrial manufacturers in automotive, aerospace, oil & gas, and heavy equipment sectors seeking high-performance metal components

Industry Verticals

Automotive; Aerospace; Oil & Gas; Industrial Equipment; Additive Manufacturing

Competitors

Modumetal; QuesTek Innovations; Desktop Metal (via materials division)

Growth & Milestones

Major Milestones

Founded as spin-out from Idaho National Laboratory (2002); Launched first AM powders for binder jetting (2015); Spun out Formetrix for AM powders commercialization (2018); U.S. Steel acquired flat-rolled sheet patents (2021)

Notable Customers

General Motors; Lear Corporation; Trinity Rail Corporation

https://www.nanosteelco.com

Why this company matters

Nanosteel designs and commercializes nanostructured steel alloys for additive manufacturing and automotive lightweighting. Founded in 2002 as a spin-out from Idaho National Laboratory, the company targets industrial manufacturers needing high-strength, wear-resistant metal components without the cracking and density issues common in conventional tool steels.

The company's core technology is a proprietary Rapid Alloy Design process that leverages nano-scale microstructures to combine hardness, ductility, and wear resistance. Key products include BLDRmetal powders for binder jetting and tool steel powders for laser powder bed fusion (LPBF). These materials enable crack-free printing of high-hardness steel parts at 99.9% density, compared to the industry average of roughly 98%. Nanosteel also produces nanostructured sheet steel for automotive lightweighting, offering 2-3x higher strength-to-weight ratio than conventional steels.

Nanosteel serves automotive, aerospace, oil and gas, and industrial equipment sectors. Named customers include General Motors, Lear Corporation, and Trinity Rail Corporation. The company has raised $50.7 million from investors including GM Ventures, EnerTech Capital, and Fairhaven Capital Partners. In 2021, U.S. Steel acquired Nanosteel's flat-rolled sheet patents, and the company spun out Formetrix in 2018 to commercialize AM powders.

Nanosteel's strategic moat rests on over 400 patents covering nanostructured steel compositions and manufacturing processes. Its powders achieve 30% higher wear resistance than conventional tool steels per customer benchmarks. However, the sale of its sheet steel IP to U.S. Steel may limit growth in automotive lightweighting, and competition from QuesTek Innovations and Desktop Metal's materials division pressures the AM powder segment.