Back in 2013, Fuel3D raised more than $300,000 to develop their high resolution, hand-held 3D scanner.
That infusion of capital, raised via a Kickstarter crowdfunding campaign, led to the company ultimately fielding distributors in 23 countries around the world and the creation of manufacturing operations in Asia.
Now Fuel3D has closed a funding round totaling $6.4 million on top of the $2.6 million they secured earlier this year. They say this latest round paves the way for the commercial launch of the their consumer scanner product during 2015.
Chimera Partners, the source of the funds, says the money will be used to ratchet up production, bolster customer support and fire international retail distribution as Fuel3D completes their Kickstarter commitment and pre-order activities. According to the companies, a portion of the funding will also go towards expanding the scope of the technology with an eye toward taking advantage of commercial opportunities in vertical markets such as biometrics and eyewear.
Ben Gill of Chimera Partners and Chairman of Fuel3D, says initial interest shown by investors in Fuel3D is on the rise following the initial round of funding.
"The company continues to impress with its commitment to product development goals and has also made very significant inroads into developing new commercial applications and relationships," said Gill.
The commercial launch of the product is expected to take place in early 2015, and the Fuel3D scanner is currently in beta-testing by Kickstarter backers.
"This funding round will take Fuel3D through the full commercial launch of our scanner next year, and will allow us to invest in new talent and infrastructure, including growing our operations in the United States," said Stuart Mead, the CEO of Fuel3D. "We will also be using the funding to further develop our intellectual property so that we can capitalize on the ongoing interest we receive from international brands in applying our technology in new verticals beyond 3D printing."
The Fuel3D hand-held 3D scanner can be used for a range of 3D modeling applications such as 3D printing, on-screen applications like 3D art, animation and game development. It's the world's first 3D scanner to combine pre-calibrated stereo cameras with photometric imaging to capture and process a 3D model in seconds. Originally developed for the medical imaging sector, the scanner has since been adapted for the broader 3D market.
Based on technology developed by Professor Ron Daniel, a Lecturer in Engineering Science at Oxford University, Fuel3D is now led by Mead, a veteran of several successful global technology ventures.