China's VMP raises $14.9M to build "dark factory," eyes IPO
What's the deal? Jiangsu Vilory Advanced Materials (VMP), a Chinese producer of metal powders for additive manufacturing, has raised US$13.8M in a Series C extension round. Jiangsu State-owned Capital Investment and Suneng Co.Dealroom has a profile for this one. Try Dealroom → supplied the funds.
What's the endgame? The Xuzhou-based company will use the capital to build Phase 4 of its VMP New Materials Industrial Park and to fund research into new materials and equipment. The round values VMP at US$290.1M.
What's next? VMP has raised almost US$110M across all rounds. It is now preparing a Series D targeting a further US$41.3M to US$68.8M ($44.8 million to $74.7 million) to expand its production base and speed up preparations for an initial public offering.
Why now? This extension follows a Series C of nearly US$42.6M in December 2025. VMP holds national-level "Little Giant" status and was a pilot reform model company under SASAC, China's state asset regulator.
The details: VMP's Phase 3 plant, which it describes as an "unmanned factory," runs more than 10 EIGA production lines. The Phase 4 "dark factory" will add annual capacity of 3,000 metric tons of titanium, 5,000 metric tons of copper, 2,000 metric tons of aluminum, and high-strength steels.
The signal: State-backed investment flowing into metal powders points to Beijing's push to build out a domestic additive manufacturing supply chain. With ISO 9001, AS9100, and ISO 13485 certifications in hand, VMP is positioning itself for aerospace and medical markets ahead of its planned listing.
Read more: voxelmatters.com
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