New Matter Gets $6.5M For 3D Printing

Pasadena-based New Matter, which is developing consumer focused, 3D printers, said today that it has raised $6.5M in a Series A funding round. The funding was led by Alsop Louie Partners, and also included Arden Road Investments, Biotechonomy, Dolby Family Ventures, First Round Capital, Idealab and frogVentures. New Matter said it is on the brink of shipping its 3D printer, the MOD-t, this spring. New Matter said the funding will go towards accelerating product development efforts. In addition to the printer itself, New Matter is also planning to launch a 3D design marketplace caled the New Matter Store, which will feature curate 3D designs. New Matter is led by Steve Schell, and initially raised around $680,000 from Indiegogo. Interestingly enough, New Matter--whose chairman is Idealab's Bill Gross--is the second time around on a 3D printing startup for Idealab, which was before its time with personal 3D printer company Desktop Factory, which it started bringing to market in 2007, but eventually sold to 3D Systems in 2009, well before the current 3D printing craze. More information »