Last month we posted an article about Fuel3D. This great (and affordable!) scanner got its initial $300,000 funding from a successful Kickstarter campaign. Today they announced that a syndicate of private investors, led by Ben Gill of London-based Chimera Partners, will invest $2.6 million (£1.6 million) to further the development.
“We have established a core group of shareholders that have taken a long term view on the technology and management of Fuel 3D Technologies,” said Gill. “The 3D printing market is the focus of significant investor interest at the moment, and Fuel 3D’s disruptive technology feeds that interest from a unique angle. We are actively exploring a number of interesting financing options, including the possibility of an early IPO.”
“We had a phenomenal response to our product on Kickstarter and the attention this generated led to many enquiries from the broader investment community,” said Stuart Mead, CEO, Fuel 3D Technologies. “We have always been confident that our technology has the potential to revolutionize the industry and are delighted to have found a group of ambitious and well-resourced investors who share our vision.”
Today’s funding news comes in advance of a planned mezzanine financing round, expected to take place before the summer, as a possible precursor to an initial public offering (IPO) as early as 2015.