Vibrant Corporation Raises $3.35 Million to Facilitate Expansion, Increase Production
Fundraise Insider provides weekly contacts of c-suite from recently funded startups, including this one. Recently funded startups are growing fast, have big needs, and have big budgets to solve them. Use this information to reach out and make more sales happen.
Advantage Capital, a foremost company in impact investing, has disclosed an investment of $3.35 million into Vibrant Corporation, a key player in the non-destructive testing (NDT) technology industry. The investment, led by Advantage Capital and participated in by several existing Vibrant shareholders, aims to bolster the company’s expansion efforts and production increase.
Vibrant Corporation, established in 2006 in Albuquerque, New Mexico, holds a leading position in the NDT sector. The company has pioneered the most commercially successful technique for Process Compensated Resonance Testing (PCRT), a methodology initially developed at Los Alamos Laboratory that uses vibrations to test object integrity.
In late 2021, Vibrant garnered attention from Collins Aerospace by applying PCRT to replace an environmentally harmful and labor-intensive NDT process on commercial aircraft wheels for many Boeing and Airbus commercial aircraft. Following this achievement, Vibrant plans to use this funding to develop and deploy more testing machines for commercial aircraft wheels.
A significant portion of the funds will go towards the creation of advanced PCRT systems, supporting its expanding services in Aerospace, Power Generation, and Automotive markets.
Vibrant is deeply committed to supporting the local community, often favoring local suppliers in Albuquerque for its manufacturing team, and selecting local contract manufacturers and distributors whenever possible.
The investment was made possible through the Federal New Market Tax Credit (NMTC) Program, a scheme designed to stimulate investment in economically disadvantaged communities. The program aids in bridging the financing shortfall that many businesses face in such areas, promoting job growth and economic advancement.