Inventables, a Chicago-based digital manufacturing innovator that provides 3D carving platforms like Carvey and XCarve 3D, announced Tuesday that the company has raked in a $5 million Series B.
The funding, led by New York- and Los Angeles-based venture capital fund Greycroft, will be used to bring their 3D carving software and hardware technology to over one million users. According to a company statement, Inventables has now raised $10 million in venture capital.
“Bringing 3D carving to the cloud enables our customers to go directly from design to smallscale production with the push of a button,” CEO and founder Zach Kaplan said in the statement.
True Ventures, Draper Associates, Corazon Capital, and Dundee Capital also participated in the round.
Using Inventables’ free cloud software called Easel, users can design production-quality items right out of their office or studio. Once the design is complete, they can then use Inventables’ desktop 3D carving platforms to bring their designs into reality.
One of those platforms, Carvey, came out of one of Chicago’s most successful Kickstarter campaigns ever — taking in more than $625,000. According to the company, Carvey’s distribution efforts will begin later this year.
3D Carving can be used for producing anything from signs and woodworking to jewelry and art projects. Carving is compatible with a variety of materials, including wood, metal, and plastic.
The company added that their products are beneficial to a wide array of users, from small-scale manufacturers to users looking to refine a prototype before heading to production.
In addition to expanding to new users, Kaplan said the company is looking to double in size in 2016. Though the bulk of the new hires will be made to shore up the company's engineering and customer support teams, they are also in the market for a VP of marketing, among other key hires.
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