Bangalore: Bangalore based 3D printer manufacturer, Fracktal Works has raised Rs.19.2 crore ($ 3 million) from 1 Neoteric Technology Solutions Private Limited – the subsidiary company of Neoteric Infomatique Limited – one of the country's largest IT distributors. The company will utilize the funds to increase their staff count and also to improve the skill set of the startup.
Founded in 2013 by Vijay Raghav Varada and Rohit Asil, Fractal Works manufactures, sells and services desktop 3D printers. It is also engaged in rapid prototyping & design consultancy along with product designing. Within six months of its founding, the company grabbed the attention of eminent companies like L&T and Cisco when it developed its desktop 3D printer Julia. This model has the capacity to print models bigger than the MakerBot printer which is the world’s most popular 3D printer, according to Fractal.
The company sells its printers to manufacturing firms, product designing firms and individual customers. At present, the company has a revenue run rate of Rs.40 lakh per annum and it aims to reach a minimum of Rs.1.5 crore in sales by the end of this year. The company claims to have sold 40 printers within three months this year alone, compared to its selling of 40 printers last year.