CreoPop, the world’s first 3D printing pen which uses cool ink, has just completed another round of financing, this time led by Wavemaker Partners and the Singapore National Research Foundation. Co-investors in this latest round also include Modal Perdana through E&E Catalyst, Ruvento, 333D and a number of private investors.
The CreoPop pen takes a different approach than typical 3D pens in that, instead of melting plastic with a hot end extruder like those used in FDM 3D printers, the CreoPop uses a version of stereolithography and a photosensitive resin cured by a UV laser. The company says that means their product is safe for children to use as no heated parts are necessary to the process.
Andreas Birnik, the CEO of CreoPop, says this expansion of his company’s investor base now includes members of the venture capital industry, government and industry.
“Following this investment round, CreoPop has raised more than SGD 2 million in seed funding which provides a solid foundation for the future,” Birnik said of this latest funding round.
Based in Singapore, CreoPop say their 3D printing technology uses proprietary, high-viscosity photopolymers materials which include glow-in-the-dark ink, magnetic ink, temperature sensitive ink and even what they call “aromatic ink.”
Birnik adds that he believes the core technology of the CreoPop pen will ultimately be used for a variety of 3D printing applications for the consumer and industrial markets.
Dennis Goh, a Partner at Wavemaker Partners, says his firm invested in CreoPop because they were impressed by the company’s achievements to date with the limited funding that they had available.
“CreoPop has made significant breakthroughs in terms of both core 3D printing technology as well as in material sciences for 3D printing inks,” Goh said of the company. “At Wavemaker Partners, we look for companies to invest in that have the potential to disrupt entire industries and this is why we decided to back CreoPop.”
CreoPop say their use of photopolymers is the first application of the technology to a portable consumer device. As the pen is operated, the ink is immediately solidified by LED diodes surrounding the nozzle of the pen.
Gene Berger, the Managing Partner at HAX Asia/Venture Partner at Ruvento, says 3D printing has the potential to radically change global manufacturing processes, and he adds that the technology will lower the barriers to entry significantly for new manufacturing players.
“CreoPop’s deep expertise in material sciences has the potential to play a key role in defining this brave new world,” Berger says.
Singapore-based Ruvento also participated in the last financing round for CreoPop. A crowdfunding campaign on Indiegogo by the company last year raised more than $185,000 on a campaign which had a goal of just $40,000. Have you ever used a CreoPop 3D printing pen or seen one in use? What did you think? Let us know in the CreoPop Pen forum thread on 3DPB.com.