Inventables Raises $3 Million To Continue Expansion of Digital Manufacturing Offering
June 17, 2013, Chicago IL - Inventables, Inc., the leading source for 3d printers for digital manufacturing, 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. In addition, Dundee Venture Capital, Richard Yoo, Founder of Rackspace Managed Hosting, Georges Harik, co-developer of the targeting technology behind Google AdSense and existing investor, True Ventures participated in the round.
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 provides the software, hardware, and materials for makers, designers, and manufacturers to create prototypes and low volume production runs. Customers create products digitally on a computer and download them into a digital manufacturing machine where they are made. Inventables’ digital manufacturing machines start at $599, which makes it possible for a new generation of individuals and companies to manufacture and sell their own products without needing to outsource production.
Inventables is taking 3-D 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 3-D printing. Inventables will be the material supplier.”
Inventables 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.
"I am pleased to see that Inventables continues to have success and grow in the critical field of digital manufacturing, and that their growth continues in the city of Chicago," said Mayor Emanuel.“ Jobs in this space have widespread positive impact on our overall economy and attract talented young people and additional investment to the city. I am focused on helping Chicago grow as a technology hub and exciting innovative companies like Inventables are essential to that mission."
The funding will help continue Inventables success in Digital Manufacturing. In 2012, Inventables launched Shapeoko, a wildly popular CNC Milling machine which is a critical tool in the advancement of the third industrial revolution. As manufacturing continues to go digital, desktop manufacturing is changing the way products are designed, prototyped and made.
"Inventables is a platform for a new generation of designers, makers, and entrepreneurs to bring their products from idea to reality," said Zach Kaplan founder and CEO of Inventables, "We are changing the world by making it realistic to make your own perfect job that you love and look forward to doing every day."
About InventablesFounded in 2002, Inventables is The Hardware Store for Designers, stocking over 10,000 machines and materials for digital manufacturing. We believe great service is important so 99 percent of orders ship same day. At Inventables we believe the world is at the beginning of a new renaissance. We see power in product development shifting from major corporations to individual designers and entrepreneurs. The availability of low cost manufacturing tools and low cost distribution on internet sites are leveling the playing field. Our customer service team helps every customer personally with their questions, and 99 percent of customers get a same day response. Visit www.inventables.com to learn more about Inventables and http://www.youtube.com/watch?v=0U5uzqu1Qvs to learn more about the revolution.