Fracktal Works Bengaluru based 3D printer has secured $3 million from Neoteric Infomatiqu Ltd., India’s leading IT distributor. With this investment the firm is valued at $2-3 million and has secured funding at a minority stake exchange to Neoteric. The company founded one and half years ago aims to utilize new funds to enhance its users’ base. It already enjoys huge users’ base here and ids growing with users.
The company founded by Manipal Institute of technology’s two engineering graduates Vijay Raghav and Rohit Asil, the company has attracted big names including Larsen and Toubro and have developed desktop 3D printer Julia. This is going to enhance its services with secured funds. The company had already hinted enhancement of its existing services to the client and will make use of secure funds to hire more professionals to pool talents. This could be of immense help for the users who will be looking forward for their help here.
Presently, it is selling printers to manufacturing firms, product design firms and to the individuals and is reportedly having an revenue rate of Rs 40 lakh/ annum and plans to touch Rs 1.5 crore in sales by this fiscal end . This could be highly rewarding for users who are keen on improving their performance with its use. This will help it in improving its performance with the services. They can avail high quality services for the users from here. Its quality printers are already enjoying huge appreciation in market.
In February this year, Pirate 3D, 3D printer makers, has secured $2 million in seed round from individual investors from Germany and Singapore and further interesting participation from Low capital management, Singapore based family office. The users can avail their high quality printers related services with and can make their tasks simple and useful with Fracktal Works.