Source3, the platform for licensing and distribution of 3D content has announced today that it has raised $4 million in Series Seed funding led by Contour Venture Partners.
The funding round was joined by Western Technology Investments, Correlation Ventures, Crosslink Capital, 645 Ventures and addition angel investors whilst Autodesk also participated as an investor through Autodesk’s Spark Investment Fund.
Bob Greene, General Partner of Contour Venture Partners explained: “Source3 is developing the processes and technologies necessary to unlock the availability and monetisation of 3D content in the 3D ecosystem. The team has collectively realised more than $1B worth of licensed intellectual property during their careers. They have the experience and insight to make Source3 a huge success. We are thrilled to be investing in Source3 and to be joined by our investment syndicate partners.”
Source3 is a collaboration of music licensing innovators and 3D printing experts, focused on unlocking the promise of 3D printing via scalable and customisable rights management solutions. Source3 will accelerate continuing product development and headcount expansion from the proceeds of this fundraising round. The startup found early success in the Capcom Street Fighter V product they launched at Comic-Con this year and they are currently looking forward to introducing new branded content to consumers over the next few months.
Patrick Sullivan, CEO and co-founder of Source3, added: “New 3D capture and manufacturing technologies are rapidly reshaping the way content owners must approach the market. These profound changes represent both a huge opportunity as well as a growing threat to existing routes to market. I am excited to be working on the solution here at Source3.”
Samir Hanna, vice president and general manager, Consumer and 3D Printing, Autodesk, concluded: “The Spark Investment Fund advances 3D printing by uncovering innovative companies in all areas of the ecosystem. We’re excited to be part of Source3’s growth as their platform provides a unique and necessary approach to aggregating, licensing and distributing 3D content.”
