Feb. 10, 2015

Pasadena, CA based startup New Matter, a year-old company backed by uber-entrepreneur and investor Bill Gross' Idealab, launched an easy to use 3D printer MOD-t last year. The sub-$300 MOD-t printer was initially funded through the Indiegogo crowdfunding platform, raising more than $680,000 and pre-selling over 2,600 units.

The company announced today the close of its Series A Funding round of $6.5M, led by Alsop Louie Partners, together with other investors including Arden Road Investments, Biotechonomy, Dolby Family Ventures, First Round Capital, Idealab and frogVentures.

"We are very excited to continue our partnership with New Matter through this investment round," said Gilman Louie, from Alsop Louie Partners. "The MOD-t and the New Matter Store are poised to bridge the gap in consumer 3D printing user experiences and lead the charge into mass adoption of 3D printing in 2015."

New Matter's mission is to bring affordable, reliable, and easy to use 3D printing into every home and school, says the company. The capital will be used to ship the MOD-t in Spring 2015. Additionally, New Matter will use the fund to accelerate product development efforts of the MOD-t and New Matter Store, a 3D design marketplace optimized for and fully integrated with the MOD-t printer.

"After being available in the industrial sector for many years, consumer 3D printing is truly coming to market in 2015," says Steve Schell, co-founder and CEO of New Matter. "With this funding, we will be able to create the standard for consumer 3D printing. We are excited to build the first truly comprehensive 3D printing ecosystem that will make creating 3D objects as easy as clicking 'print'."

New Matter will also use this funding round to prepare the MOD-t for commercial availability later in 2015.

 

Posted in 3D Printers

 

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ih wrote at 2/21/2015 10:44:22 PM:

Except it's not, because it has nothing in common with a PrintrBot except they both extrude melted plastic.

beverins wrote at 2/10/2015 7:34:05 PM:

Looks like a PrintrBot ripoff inside a pretty box.



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