Existing investor Iluka Resources has participated in a $29m funding round for Metalysis, which produces metal powders used in 3D printing.

UK-based 3D printing materials developer Metalysis has received £20m ($29m) in a funding round backed by mining company Iluka Resources.

Woodford Patient Capital Trust, an investment firm focused on university spinouts, also took part in the round. Iluka will hold a 28.8% stake following the capital injection.

Metalysis has developed technology to produce metal powders such as titanium, bespoke alloys and tantalum for use in 3D printing. The process was initially developed at Cambridge University’s Department of Materials Science and…