Fuel3D Announces $6.4 Million in Additional Funding

Share this Article

f1Numerous Kickstarter projects have graduated to become full-fledged companies. The ability to exploit the power of the crowd to launch an innovative new idea or product is changing the way companies access capital. Take for instance Oculus, a Kickstarter success which later sold to Facebook for $2 billion.

Another Kickstarter hit, this time a 3D scanner, has graduated from Kickstarter to become a company which is firing on all cylinders. After raising over $325,000 for their 3D scanner on the crowdfunding platform, and then another $2.6 million earlier this year via venture capital, Fuel3D has stepped things up a notch. Today the company, which was launched out of Oxford University, has announced an additional $6.4 million raised in a brand new funding round.

f3

This latest round was led by Chimera Partners and will be put to good use in ramping up production in preparation of the launching of their consumer 3D scanner into the market next year. The funding will also enable the company to hire additional customer support representatives, expand globally, and address several vertical market opportunities for products within the biometrics and eyewear spaces.

“The initial interest shown by investors in Fuel3D has only been increased since the first funding round and we are very pleased to have been oversubscribed in this round of fundraising,” said Ben Gill of Chimera Partners and Chairman of Fuel3D. “The company continues to impress with its commitment to product development goals and has also made very significant inroads into developing new commercial applications and relationships.”f4

Currently Fuel3D has their manufacturing operations located in Asia with distributors spread out among 23 different countries. By combining pre-calibrated stereo cameras and photometric imaging, the Fuel3D scanner is capable of capturing images and converting them into a 3D model within seconds. Despite the influx of new applications which can turn ordinary smartphones into 3D scanners, Fuel3D’s product should appeal to a large portion of the market looking for fast, high-quality scanning technology.

“This funding round will take Fuel3D through the full commercial launch of our scanner next year, and will allow us to invest in new talent and infrastructure, including growing our operations in the United States,” said Stuart Mead, CEO of Fuel3D. “In tandem with our consumer product development, we will also be using the funding to further develop our intellectual property so that we can capitalize on the ongoing interest we receive from international brands in applying our technology in new verticals beyond 3D printing.”

Early reviews of their scanners have been outstanding. It will be interesting to see where they take this technolgy next, and what products may eventually have 3D scanning integrated into them as Fuel3D expands their scope. Have you used a Fuel3D scanner? What are your thoughts? Discuss in the Fuel3D Forum thread on 3DPB.com

f2

Facebook Comments

Share this Article


Related Articles

Longer Orange 30 Affordable Resin LCD 3D Printer is Live on Kickstarter

Arris Composites: Closes $10 Million Series A Funding Round, NEA Leads



Categories

3D Design

3D Printed Art

3D Printed Food

3D Printed Guns


You May Also Like

3D Printing News Briefs: May 16, 2019

We’ve got plenty of business news for you in today’s 3D Printing News Briefs, starting with Additive Manufacturing Technologies’ impressive growth as of late. ExOne has announced a collaboration with...

Xometry: On-Demand Manufacturing Marketplace Completes $50MM Funding Round

Led by Greenspring Associates, Xometry has just announced $50MM raised in equity funding. Also funding the on-demand manufacturing marketplace are: Dell Technologies Capital BMW i Ventures Foundry Group GE Ventures...

Artec 3D Introduces Automated Desktop 3D Scanner Artec Micro

International 3D hardware and software manufacturer Artec 3D, which is headquartered in Luxembourg with subsidiaries in Russia and the US, just announced the launch of its new desktop 3D scanner,...

ORNL and UMaine Initiative Receives Funding to Create New Bio-Based 3D Printing Materials

The researchers at Oak Ridge National Laboratory (ORNL) in Tennessee have spent a lot of time working with unique 3D printing materials, such as polyester, lignin, and nanocellulose, which is a bio-derived...


Training


Shop

View our broad assortment of in house and third party products.


Print Services

Subscribe To Our Newsletter

Subscribe To Our Newsletter

Join our mailing list to receive the latest news and updates from our 3DPrint.com.

You have Successfully Subscribed!