The idea of a 3D Pen which can use fotopolymer instead of thermopolymer ink is appreciated by investors, as CreoPop, one of the first companies to propose this concept globally, has been collecting venture capitalists and financial support foundations willing to bet on its shiny future.
The Singapore based compay has just raised a new financing round led by DFJ Global Network member firm Wavemaker Partners, an early-stage, venture capital firm with headquarters in Los Angeles and Singapore, which seeks to back the best startups both in Southern California and Southeast Asia.
“We invested in CreoPop because we are very impressed with what the company has achieved to date with limited funds,” said Dennis Goh, Partner at Wavemaker Partners. “CreoPop has made significant breakthroughs in terms of both core 3D printing technology as well as in material sciences for 3D printing inks. At Wavemaker Partners, we look for companies to invest in that has the potential to disrupt entire industries and this is why we decided to back CreoPop.”
Also driving the financing round is the Singapore National Research Foundation (NRF), a department within the Prime Minister’s Office which sets the national direction for research and development (R&D) by developing policies, plans and strategies for research, innovation and enterprise.
CreoPop fits within the NRF’s program of transforming Singapore into a vibrant R&D hub that contributes a knowledge-intensive, innovative and entrepreneurial economy, thus making the small nation a magnet for excellence in science and innovation. The round also sees the participation of co-investors including Malaysian venture capital firm Kampulan Modal Perdana via E&E Catalyst, Australian integrated 3D printing platform 333D, along with Ruvento and a number of private investors.
On 3DPI we have often covered the the CreoPop 3D pen, which, unlike the 3Doodler and its clones which use strips of PLA or ABS thermopolymers, uses light-sensitive photopolymer inks like SLA, DLP and polyjet based 3D printers. CreoPop is the first application of the technology in a portable consumer device and thus we had defined it as a “next generation” 3D pen. When CreoPop is operated, the ink is immediately solidified by LED diodes surrounding the nozzle of the pen, with no heating or odors involved. Since no heating is required, CreoPop is safer to use in a home environment with children and pets around.
“We are delighted to expand our investor base with a number of prominent investors from the venture capital industry, government and industry,” said Andreas Birnik, CEO of CreoPop. “Following this investment round, CreoPop has raised more than 2 million SGD (about $1.5 million, E.N.) in seed funding, which provides a solid foundation for the future.”
The company behind the CreoPop pen specializes material sciences. The 3D printing pen is its first product and it is based on its proprietary 3D printing technology and materials. These include a wide range of different resin inks (magnetic, glow-in-the-dark, temperature sensitive, aromatic) and will be implemented in a yet undisclosed “wide variety of 3D printing applications in the consumer and industrial areas”. They now have more funds to make this a reality and bring about the future of 3D drawing.