The Model One by Impossible Objects
Chicago-based additive manufacturing company, Impossible Objects, has announced it has raised $6.4 million in a Series A investment round led by OCA Ventures and with participation from IDEA Fund Partners, Mason Avenue Investments, Huizenga Capital Management, and Inflection Equity Partners.
The TCT Technology Innovation Hardware Award winner has secured a total of more than $9 million in investment for its composite-based additive manufacturing (CBAM) technology which produces strong, lightweight parts at scale from fibre-reinforced composites, including carbon, Kevlar and fibre glass fabrics bonded with high performance polymers such as nylon and PEEK.
“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,” says Robert Swartz, founder and Chairman of Impossible Objects. “We’re delighted to work with our investment partners to meet this massive opportunity.”
The company debuted its pilot Model One printer at RAPID + TCT and launched its pilot programme which included its first customer Jabil, a global manufacturing solutions company which provides comprehensive electronics design, production and product management services to electronics and technology firms.
“We’re just scratching the surface at how fast we can build parts and materials at scale,” says Larry Kaplan, CEO of Impossible Objects. “This funding will only accelerate our ability to develop our technology and roll it out to the biggest companies worldwide.”
"Impossible Objects is leading the way by using its technology to transform how the largest corporations manufacture," said OCA Ventures General Partner Ian Drury. "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."
The Model One is set to be commercially available in 2018.
