Jun.17, 2013
Chicago based Inventables, which runs an online hardware store for designers, today announced a $3 million round of financing bringing total investment in the company to $5M.
This round was led by long-time venture investor Tim Draper through Draper Associates. The other investors in Inventables' $3 million round included Dundee Venture Capital, Richard Yoo, Founder of Rackspace Managed Hosting, Georges Harik, co-developer of the targeting technology behind Google AdSense.
It's current investor, True Ventures also participated in the round.
Inventables provides the software, hardware, and materials for makers, designers, and manufacturers to create prototypes and low volume production runs. In 2012, Inventables launched Shapeoko, a wildly popular CNC Milling machine for the community.
According to founder and CEO Zach Kaplan, the funding will be used to expand Inventables' offerings in digital manufacturing, which includes 3D printing, CNC Milling, and the related software tools, material and components needed to design and build beautiful products.
Inventables is taking 3D printing to a whole new level, by allowing easy access to the materials needed for low volume manufacturing," said Draper. "Zach and his team are helping companies and individuals take their designs and make them reality. I expect anything from busts of Steve Jobs to iphone covers, to prototypes of parts that will be injection molded to be made through 3D printing. Inventables will be the material supplier."
Inventables said it will use part of this investment to expand to a new 25,000 square foot facility in Chicago, where product development, engineering, and distribution will be co-located.
Watch below Zach Kaplan, CEO of Inventables describes the revolution in digital manufacturing and desktop fabrication.
Posted in 3D Printing Company
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