Fast Radius, a Chicago-based advanced digital manufacturing company, has filed for bankruptcy due to “recent turbulence in the capital markets, which severely hampered the company’s ability to set up the required capital structure.” This followed just nine months after Fast Radius announced in July 2021 that it would list on the NASDAQ stock exchange, at which point a wave of layoffs started in the summer.
The business has declared that it will remain operational and serve customers in the due course despite having filed voluntary petitions for relief under Chapter 11 of the United States Bankruptcy Code in the District of Delaware. The business has so far produced goods for the automotive, aerospace, and consumer goods industries using subtractive methods as well as Multi Jet Fusion, fused deposition modeling, and digital light synthesis.
“Every year since our founding,…
