Full Spectrum Laser and subsidiary FSL3D, designer and manufacturer of industrial grade laser products has secured a new round of funding to fuel its rapid growth in 3D printing.
The company has today announced that it has received a $10 million growth equity investment from Summer Street Capital III, a Buffalo, New York based private equity fund, to accelerate development of its next generation affordable laser cutting, engraving and 3D printing platforms.
“Our partnership with Summer Street represents a significant milestone in our strategic growth plan," said Henry Liu, PhD, Founder and CEO of FSL and FSL3D. "We are excited to accelerate our already rapid growth in the 3D printing market and continue to expand our laser cutting and engraving business."
Founded in 2010 in a Las Vegas garage, FSL has already raised $1.0 million from two successful Kickstarter campaigns to enable its creation of superior performance laser products. FSL will use this new round of financing to expand its world-class engineering and R&D teams as well as develop sales, marketing, and customer support initiatives.
Garth Troxell, a Partner at Summer Street Capital, said: “FSL has assembled a highly talented team and we’re excited by the prospects for the Pegasus Touch and the 2D laser cutters and engravers, as well as additional 3D printers FSL currently has in development utilising other technologies and materials. Each of these product offerings has excellent growth potential.”
FSL3D’s first generation 3D Printer, Pegasus Touch, builds upon FSL’s long laser heritage and expertise. By using a custom UV laser controlled by FSL’s proprietary laser controls, Pegasus Touch delivers professional quality results at a relatively low cost.
FSL is set to reveal details about to its revolutionary patent pending technologies such as SuperVatTM at International CES 2015.