Impossible Objects raised $6.4 million in a Series A investment round led by OCA Ventures. They’ll also plan to release the Model One printer this year.
Impossible Objects are doing well for themselves considering they’re a company without a printer on the market – yet. The 3D printing company based in Illinois and founded in 2009 announced they’ve raised 6.4 million dollars in a Series A investment round led by OCA Ventures.
Investors joining OCA Ventures include; IDEA Fund Partners, Mason Avenue Investments, Huizenga Capital Management, and Inflection Equity Partners. Robert Swartz, founder and Chairman of Impossible Objects, explains:
“We’ve seen incredible momentum as more corporations are looking to additive manufacturing for production purposes and not just prototypes or low volumes. These companies need strong parts that can be made fast… We’re delighted to work with our investment partners to meet this massive opportunity.”
The company has now received an eyebrow-raising $9 million and also won the TCT Technology Innovation Hardware Award. Both award and money are for the company’s composite-based additive manufacturing (CBAM) technology, that claims to deliver durable parts much faster.
Why are the investors plugging so much money into the company? Essentially, because of the Impossible Objects CBAM technology which they’ve been developing over the last several years and believe will transform high-volume composite manufacturing.
OCA Ventures General Partner Ian Drury, explains the benefits of the tech, saying: “Impossible Objects is leading the way by using its technology to transform how the largest corporations manufacture… The market opportunity for a revolutionary industrial additive manufacturing solution such as Impossible Objects’ CBAM is enormous and the company has huge momentum right now.”
This technology can create strong, lightweight parts at scale. Better yet, Impossible Objects claim that this technology can work with high-quality materials. This would include carbon fiber, Kevlar, and fiberglass with high-performance polymers like PEEK.
The pilot Model One 3D printer made its debut at RAPID + TCT along with their pilot program. However, the Model One 3D printer won’t be commercially available until 2018.
Larry Kaplan, CEO of Impossible Objects, believes this technology is scratching the surface of how fast parts and materials can be built at scale. He adds that, with the help of this funding, it’ll be possible for the company to accelerate the technology and develop it further.
Source: TCT Magazine
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