PASADENA, Calif., Feb. 10, 2015 /PRNewswire/ -- New Matter (www.newmatter.com), a leader in consumer 3D printing, announced today the close of its Series A Funding round of $6.5M. Alsop Louie Partners led the round, with other notable investors including Arden Road Investments, Biotechonomy, Dolby Family Ventures, First Round Capital, Idealab and frogVentures™, the investment arm of global product strategy and design firm frog.
Founded in 2014, New Matter's mission is to bring affordable, reliable, and easy to use 3D printing into every home and school. New Matter will use the capital to accelerate product development efforts of the MOD-t and New Matter Store.
"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."
In addition to shipping the MOD-t in Spring 2015, New Matter will be launching the New Matter Store, a 3D design marketplace optimized for and fully integrated with the MOD-t printer, offering hundreds of high-quality, curated designs from today's most influential 3D design artists.
"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'."
The MOD-t was initially funded through the Indiegogo crowdfunding platform, raising more than $680,000 and pre-selling over 2,600 units of one of the most affordable 3D printers currently on the market. New Matter will use this funding round to prepare the MOD-t for commercial availability later in 2015.
About New Matter
New Matter (www.newmatter.com) was founded in 2014 with a mission to bring 3D printing to every home, school, and office. Led by its flagship products, the MOD-t 3D printer and the New Matter Store, New Matter is poised to revolutionize the consumer 3D printing market by providing the first and only affordable, fully integrated, end-to-end consumer 3D printing experience. The company is backed by leading venture capital firms and is an operating company of Idealab, a creator and operator of technology companies that has started more than 125 companies since 1996, resulting in more than 40 IPOs and acquisitions. Stay connected with New Matter through Facebook, Twitter and Instagram.
New Matter and MOD-t are trademarks of New Matter, Inc. All other trademarks and registered trademarks are the property of their respective owners. ©2015 All rights reserved.
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SOURCE New Matter