MatterFab, an Indiana University-funded maker of metal 3-D printers, recently closed a $5.75 million seed-funding effort toward the design and development of its first printer for commercial, industrial-grade use.
The Innovate Indiana Fund and GE Ventures were among the investors in the Series A financing round, which will help the San Francisco-based company produce what it describes as the first affordable and scalable 3D metal printer that uses next-generation laser technology to print solid metal parts.
As more companies turn to additive manufacturing methods for direct production parts, rising demand for specific requirements makes commercial 3-D printers increasingly valuable. By using technology and techniques learned through years of serving national labs and military special forces, MatterFab aims to redefine the capabilities of metal 3-D printing.
“Our vision is not just to solve today’s biggest challenges with metal 3-D printing but to revolutionize the capabilities of metal printing,” MatterFab CEO Matt Burris said. “Achieving that vision begins with developing our new metal 3-D printer in partnership with some of the most experienced users of metal additive manufacturing technology.”
MatterFab seeks to address such challenges by working with partners with significant additive manufacturing experience, such as the University of Louisville, and maintaining keen awareness of production demands.
The Innovate Indiana Fund made its initial seed investment in MatterFab in early 2014.
“Industries old and new will be impacted by MatterFab’s technology, as markets realize their new potential with additive manufacturing,” said Ken Green, managing director of the Innovate Indiana Fund. “We are pleased to work with the MatterFab team as their unique backgrounds in laser technology and CNC protocols make them leaders in the 3-D printing field.”
via Innovate Indiana Fund Part of $5.75M Investment – Newsroom – Inside INdiana Business with Gerry Dick.