GE Ventures and Innovate Indiana Fund invest in MatterFab to complete production of commercial industrial 3D metal printer
SAN FRANCISCO — (BUSINESS WIRE) — May 27, 2015 — MatterFab, a metal 3D printer manufacturing company, today announced the completion of its Series A Financing round totaling $5.75 million including investments from GE Ventures and the Innovate Indiana Fund. With the funding, MatterFab will complete the design and development of the company’s first commercial industrial 3D metal printer.
“Our vision is not just to solve today’s biggest challenges with metal 3D printing, but to revolutionize the capabilities of metal printing,” said Matt Burris, CEO at MatterFab. “Achieving that vision begins with developing our new metal 3D printer in partnership with some of the most experienced users of metal additive manufacturing technology.”
As more companies move to create direct production parts via additive manufacturing techniques, the demand for specific requirements is increasing and making commercial industrial 3D printers even more valuable. The investment from GE, a leader in industrial manufacturing, is further validation for MatterFab’s printer, which will be the first affordable, scalable 3D metal printer using next generation laser technology to print solid metal parts.
“GE Ventures is reimagining manufacturing and what is possible on the factory floor, and we see great potential in MatterFab’s offerings and industrial applications,” said Steven Taub, Sr. Director, Investments - Advanced Manufacturing, GE Ventures. “MatterFab’s open platform gives its printing system the flexibility that GE and other industrial leaders need to use additive manufacturing to make a wide variety of functional metal parts for our customers.”
MatterFab looks to address the challenges of today’s additive manufacturing technology by working with partners with significant additive experience and strong awareness of production demands.
“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 3D printing field.”
MatterFab has received previous funding from Lemnos Labs.
For more information about MatterFab, visit www.matterfab.com.
About MatterFab
MatterFab ( www.matterfab.com) was founded by Matt Burris and Dave Warren, two engineers with deep experience developing complex systems for the military. Matt’s passion for revolutionizing manufacturing comes from growing up in his family’s aerospace machine shop in Indianapolis. He has personally seen work from his family’s shop moved to 3D printing and is determined to lead this technology into the machine shops of tomorrow.
MatterFab is based in San Francisco and is currently a part of Lemnos Labs hardware startup program. Please send your inquires to press@matterfab.com.
About GE Ventures
GE Ventures is committed to identifying, scaling and accelerating ideas that will make the world work better. Focused on the areas of software, advanced manufacturing, energy and healthcare, GE Ventures helps entrepreneurs and start-ups succeed by providing access to GE’s technical expertise, capital and opportunities for commercialization through GE’s global network of business, customers and partners. GE Ventures offers an unparalleled level of resources through its Global Research Center, including: 35,000 engineers; 5,000 research scientists; 8,000 software professionals; as well as 40,000 sales, marketing and development resources in over 100 countries. For more information, please visit www.geventures.com.
About Innovate Indiana Fund
The Innovate Indiana Fund provides early-stage capital to companies with an Indiana University connection. The fund also assists in such areas as technology assessment, market analysis and planning, management recruitment, product development, sales strategy, customer acquisition and next-stage capital.
Indiana University is designated as an Innovation and Economic Prosperity University by the Association of Public and Land-Grant Universities. This recognizes IU’s commitment across all its campuses to being a leading institution in fostering regional economic development.
View source version on businesswire.com: http://www.businesswire.com/news/home/20150527005445/en/
Contact:
MatterFab
Matt Burris, 844-829-6322
Email Contact