Polar3D secure $2 million investment

Polar3D, printers with the mission of “Empowering educators & inspiring young minds via 3D Printing”, closed a recent funding round. The terms of the $2 million deal will provide the funds in the form of a convertible note and were agreed at the end of last month (30 September 2016). The private investment coincided with the company hitting 100,000 3D print runs, and adding two new directors to their executive team. The combination of these three developments are a significant boost to the growth of the company’s Polar Cloud: an online platform similar to MyMiniFactory, that “encourages collaboration and sharing in the 3D printing community”.

Rounder than your average bed.

Polar3D has become known for rewriting the rulebook on standard cartesian X/Y/Z and delta-robot style motion system – a feat achieved by its patented polar technique and a circular print bed.

The last we heard from the company was in April of 2016, when they announced their acquisition of STEAMtrax, an educational orientated software application, from 3D Systems. It is this acquisition that attracted David Thornburg, their new Director of Education. Thornburg is the author of The Invent to Learn Guide to 3D Printing in the Classroom: Recipes for Success, and has gained international renown for papers on “envisioning a new future” for teaching in key stage 2.

The second addition to the team is Dan Newman, who now holds the position of Chief Technology Officer:

“After seeing the Polar Cloud and hearing plans for Polar Cloud 2.0, I couldn’t say yes fast enough… they had me at print.”

Future promise of Polar3D, and enthusiasm for their Polar Cloud is perhaps no better phrased than by the CEO himself, Greg LaLonde:

“We are thrilled the experience is moving past the 3D printer itself to a truly collaborative environment where student-led learning, discovery and “making” are exploding.  There is simply no limit to how much these kids want to show off their work. It’s intoxicating, contagious, and is why the Polar Cloud affords an unusually large-scale opportunity.”

Additional investment in the company is scheduled at $6.5 million for a planned Series A round in 2017 and will follow the release of Polar Cloud 2.0, an event that takes place on the 1st January.