Me3D attract substantial investment
The iAccelerate Seed fund has made its first investment into resident company Me3D as co-investors with the Sydney Angels.
The Me3D team attracted an 8-angel strong syndicate of Sydney Angels, adding another 3 local angels and iAccelerate to make up their final funding composition.
The iAccelerate fund contributed $135,000 as part of the total $500K raise.
“It has taken 5 months to close this round of investment and we are thrilled with the outcome.” said co-founder Leanne Connelly.
Me3D was founded in late 2013 in the engineering hub of Wollongong NSW. The founders wanted to bring 3D printing into everyday life and to prevent it from following the same slow adoption path that personal computing had taken. They committed themselves to put this tech in the hands of every child at as early a stage in learning as possible.
Me3D is a team of 6 that are current residents in the iAccelerate Centre on University of Wollongong’s Innovation Campus, North Wollongong. They are establishing an exceptional reputation for being an inspiring company as a result of their commitment to education and amazing customer service. With this investment, Me3D are employing 2 new staff, with 1 to 2 more hires on the horizon and a lot of contract work becoming available.
Me3D also makes use of North Wollongong’s Greenacres Disability Solutions to provide assembly and testing of their printer.
The next 12 months will see Me3D investing into product commercialisation, research and development, business development and marketing. They have ambitions to get 3D printers into every school in Australia.
“We see this investment not only as a combined vote of confidence by ourselves and from a diverse range of angel investors. We all see the tremendous potential of Me3D.” said Omar Khalifa. “We believe many more of our 53 resident companies will be enjoying similar success in the near future.”