First Resonance Raises $12.5M
/First Resonance, a downtown-based manufacturing startup, announced on Monday it raised $12.5 million in an extension round led by New York-based Third Prime with additional participation from firms like Century City-based Blue Bear Capital, bringing First Resonance to $32 million in funding.
The company, which was cofounded in 2020 by former engineers at SpaceX – the Hawthorne-based rocket company aiming to reduce the cost of space travel through rapid manufacturing development – is part of the hard tech manufacturing boom taking Silicon Valley by storm.
“We really do believe that the 2020s is going to see an acceleration of all this,” said Karan Talati, a cofounder and the chief executive of First Resonance. “The offshoring capitalist form of financially engineering manufacturing has basically now dried up with labor costs in places like China. Not to mention the geopolitical tensions. And, all of a sudden, there’s a demand to redistribute manufacturing globally.”