SYDNEY, Dec. 22, 2016 /PRNewswire/ -- Robo (RBO), a US-based 3D printing market leader and maker of the most highly-rated consumer printers available, today listed on the Australian Securities Exchange (ASX), raising the maximum subscription of AUD$6 million with its successful public offer.
The public offer solidifies the company's international footprint, while advancing its vision, innovative spirit and overall expansion within the 3D printing space.
Core founders and existing employees, with direction from an accomplished group of seasoned consumer electronics professionals, will continue to operate, control and drive all business strategy from Robo headquarters in San Diego.
The listing follows its recent holiday shipment of the Robo C2 Compact Smart 3D Printer with Wi-Fi, and being named CES 2017 Best of Innovation Awards Honoree by the prestigious Consumer Technology Association (CTA)™ for its Robo R2 High-Performance Smart 3D Printer with Wi-Fi, which ships early next year.
"Today's announcement marks a huge step forward in how we continue to pursue our vision as influencers — ensuring we remain steadfast to our principles as a young and hungry team with an original mission, which has always been to give people a tactile means of expressing their full creative potential through simple, easy-to-use and next-gen 3D printing technologies," said Braydon Moreno, co-founder of Robo.
Ryan Legudi, Managing Director of Robo, says the IPO represents a major victory for the company and the future of this exciting category in consumer electronics. "Getting to this point was a monumental task — as all great things are," Legudi said. "I'm so proud of the foresight and hard work by everyone who've brought this across the finish line, knowing that we're now fully positioned to further change the landscape of 3D printing in bold, inventive new ways as the market continues to grow and evolve."
Worldwide shipments of 3D printers are expected to more than double by the end of 2016, reaching an estimated 455,772 units by year's end, according to a recent report by Gartner, Inc. And those numbers are poised to exceed 6.7 million by 2020 — the primary market driver being educational institutions and enterprise engineering, marketing and creative departments relying on accessible, high-quality cost options under $2,500 per unit. The Robo ASX listing is also considered a solid indicator of market confluence with Greater China, emerging Asia/Pacific and mature Asia/Pacific regions adding to the higher shipments and growth rates by the end of the decade.
Robo 3D Limited (ASX: RBO) is a company based in California that focuses on the design and distribution of 3D printers and associated products for the desktop segment of the 3D printing industry (Robo 3D).
The company was founded in 2012 by a group of students from San Diego State University and delivered its first model to customers in 2013. Since then, Robo 3D has grown into a leading brand in the desktop segment of the 3D printing industry, gaining significant traction online and through retail partners including Amazon and Best Buy.
To learn more about Robo, visit www.robo3D.com
MEDIA — AUSTRALIA:
Adrian Watson, FTI Consulting +61 8 9485 8888
Ryan Legudi, Managing Director Robo 3D Limited +61 434 528 648
Or email investors@robo3D.com
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SOURCE Robo 3D Limited