Impossible Objects has closed a $40 million Series B round to scale Composite-Based Additive Manufacturing, or CBAM. Announced on September 11, 2026, the financing was led by Inflection Equity with participation from Aaron Wealth Management, OCA Ventures, Impact Capital and Excell Partners. The company plans to increase production of industrial systems, expand customer deployments and build the service and commercial organisation needed to support a larger installed base.

What is the round actually funding?

This is not the launch of another printer. The capital is intended to scale the CBAM 25 platform introduced in early 2025. Impossible Objects says it has taken five orders and started placing systems or technology with the U.S. Air Force, the National Institute for Aviation Research, Oregon Manufacturing Innovation Center and Rochester Institute of Technology. The task is therefore to turn early deployments into a repeatable product, installation and support business.

The company also cites $20 million in U.S. government contracts and awards. That is a different category from the Series B. Equity financing supports the company in exchange for ownership, while government contracts and grants are tied to defined work. The two figures should not be presented as $60 million of unrestricted capital.

How CBAM works

CBAM processes sheets of carbon- or glass-fibre fabric layer by layer. A liquid is deposited in the digitally selected region, thermoplastic powder is applied, and excess powder is removed. The sheets are stacked and consolidated with heat and pressure before unbonded fabric is removed. It is neither filament extrusion nor a conventional powder bed process: relatively continuous in-plane reinforcement is central to the material proposition.

The method may combine tool-less variation with rapid layer formation, but the fabric, polymer, consolidation and removal stages all influence the finished part. Properties can be directional, and holes, fine edges, thickness changes and secondary operations require application-specific evidence.

Speed and strength remain company claims

Impossible Objects says the CBAM 25 can produce up to 25 layers per minute, operate fifteen times faster than competing production additive systems and make composites with strength up to 200 MPa. The announcement does not fully define the competing machines, geometry, material, layer conditions, utilisation, post-processing or acceptance criteria. The multiplier is therefore not an independent industry benchmark.

The same caution applies to the statement that the technology can support up to 10,000 drone bodies per month at Rock Island Arsenal. It describes a claimed capability rather than a disclosed production record. Public information does not specify geometry, shift pattern, machine count, yield or qualification steps.

Why the financing matters

Scaling an industrial AM platform requires more than assembling printers. Materials supply, application engineering, spare parts, remote diagnostics, field service and process validation must grow with the installed base. Explicitly funding service and commercial capacity is therefore material: rapid sales without support can create an operational liability for both vendor and customer.

The round does not establish that CBAM beats CNC machining, moulding or another additive process in every application. A fair comparison must use the same part, volume, material requirements, secondary operations, inspection and total lead time. The financing shows that investors are willing to fund the scale-up risk; repeatable customer production data will determine whether the economics hold.

Editorial conclusion

The $40 million Series B is a major commercial milestone for Impossible Objects because it can turn five early orders into real manufacturing and service capacity. It does not, by itself, validate fifteen-times speed, 200 MPa material performance or a monthly drone-body rate. The next meaningful evidence will be utilisation of deployed systems, the number of qualified applications and documented cost per accepted production part.