Consumer 3D printing company New Matter has announced the close of its Series A Funding round of $6.5M.
Starting out with a successful crowdfunding campaign on Indiegogo, the company has secured a funding round led by Alsop Louie Partners and investors including Arden Road Investments, Biotechonomy, Dolby Family Ventures, First Round Capital, Idealab and frogVentures.
New Matter started in 2014 with ambitions plans to bring affordable, reliable, and easy to use 3D printing into every home and school. This latest funding will be used to accelerate product development efforts of its sub $400 MOD-t 3D printer and New Matter Store.
"We are very excited to continue our partnership with New Matter through this investment round," said Gilman Louie, from Alsop Louie Partners. "The MOD-t and the New Matter Store are poised to bridge the gap in consumer 3D printing user experiences and lead the charge into mass adoption of 3D printing in 2015."
New Matter MOD-t 3D printer.
In Spring 2015 New Matter will launch the New Matter Store, a 3D design marketplace optimised for the MOD-t printer, offering hundreds of high-quality, curated designs from 3D design artists.
"After being available in the industrial sector for many years, consumer 3D printing is truly coming to market in 2015," says Steve Schell, co-founder and CEO of New Matter. "With this funding, we will be able to create the standard for consumer 3D printing. We are excited to build the first truly comprehensive 3D printing ecosystem that will make creating 3D objects as easy as clicking 'print'."
The MOD-t originally sourced $680,000 on Indiegogo with 2,600 units pre-sold. The funding will be used for the commercial launch of the MOD-t printer later this year.