Singapore’s CreoPop raises seed funding round for its 3D printing pen
3D printing pen creator CreoPop has raised a seed funding round, the company announced today. The round is led by Wavemaker Partners and the Singapore National Research Foundation (NRF), while other investors include Malaysian venture capital firm Kumpulan Modal Perdana via its E&E Catalyst fund, Ruvento Ventures, Australian 3D printing company 333D, and a number of private investors.
CreoPop declined to disclose the amount, but claims it has raised more than S$2 million (US$1.48 million) in total so far. This presumably includes a previous funding round led by 500 Startups in January, but it is unclear if it takes into account the US$186,000 the company raised through crowdfunding site Indiegogo. The company will use the funding “to cover ongoing operating expenses, working capital for inventory, and marketing launch with a focus on the US,” co-founder Andreas Birnik told Tech in Asia.
CreoPop’s product is a 3D printing pen, which uses proprietary photopolymer technology to enable “3D drawings” of physical structures. The ink flows from the pen and LED diodes at the tip instantly harden it to create the object. According to the company, this is the first time the technology has been applied to a portable consumer product. The basic idea behind the process sounds not unlike what dentists use for tooth fillings these days. CreoPop also points out its method is safe for use at home and by children, as there is no heating of the material involved.
Some of the creations possible with CreoPop’s 3D printing pen.
The pen is now locked in terms of specifications, according to Birnik. Next comes the certification procedures for the pen and the proprietary inks it uses. Once all that is out of the way, the company plans to begin mass manufacturing and shipping of pre-orders. Shipping is expected to start in August, according to the company’s website.
CreoPop is currently focused on this product, but sees potential for further applications of its technology. “Our mission is to enable people to create whatever they want in a range of different materials as well as colors,” Birnik said. “So further on, we will be looking to introduce other 3D printing applications beyond the pen.” The company doesn’t wish to specify what those might be at this time, however.
This post Singapore’s CreoPop raises seed funding round for its 3D printing pen appeared first on Tech in Asia.
