TORONTO, ONTARIO--(Marketwired - Aug. 19, 2014) -
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The first affordable, crowd-funded high resolution 3D scanner is now shipping to studios, offices and homes around the world ushering in a new era of accessible 3D scanning. The Matter and Form 3D Scanner (formerly Matterform) is the inaugural product of Matter and Form Inc. which just received a $2-million funding injection led by Sandstone Asset Management Inc. and joined by the MaRS Investment Accelerator Fund (IAF). The money will be invested in staffing, marketing, and research and development, among other things.
The scanner is easy to use right out of the box and capable of color scans rivaling those produced by much more complex and expensive 3D scanners. It works with any 3D printer or online printing service and can scan solid items to create 3D representations in as little as seven minutes. Higher quality scans of larger objects can take as little as 45 minutes. Its $579 retail price tag makes it significantly more affordable than many of its competitors.
The Matter and Form 3D Scanner was invented by and for designers but a highly successful Indiegogo Campaign attracted a much broader range of backers than anticipated, including inventors, gamers, hobbyists, teachers and even creative families.
"Bringing a new product to market is an arduous and complex process, and we've been extremely fortunate to have backers who have encouraged us to take our time and get it right. That support has enabled us to reach the point where we are very proud of the product we're shipping," said Matter and Form Inc.'s CEO and Founder, Drew Cox, a designer and programmer. "The investment is just as important but in a different way. It will let us create products that will take people as far as their imaginations will let them. We couldn't ask for better partners than Sandstone and IAF."
Cox and his friend Adam Brandejs needed a 3D scanner, but couldn't afford it, so they built one instead. When they saw how well it performed, they knew others would want it too. They started a company and were joined by Trevor Townsend, a veteran programmer, consultant, and business analyst. Brandejs left after the design phase was complete and Paul Banwatt, a lawyer, joined the company as COO and General Counsel.
While 3D printing has been available at the industrial/commercial level for several years, the transition to personal use has been hampered by the fact that people didn't have meaningful things to print. High-resolution scanners that could scan real-world objects were prohibitively expensive. Until now. The Matter and Form 3D Scanner is the highest quality 3D scanner available in its price range, making the endless possibilities of 3D scanning an affordable option for everyone from small design firms to artists, architects, and even families.
Sharon Watkins, CEO of lead investor Sandstone Asset Management Inc. said, "Our investment in Matter and Form Inc. is an endorsement of its people and ideas. It is a fusion of an attractive investment opportunity and supporting the disruptive effects of putting powerful technologies within reach of ever-wider user bases. Sandstone is proud to support Matter and Form Inc.'s future growth and its leadership in disruptive technologies."
"When we thought about the possibilities for creative professionals, small businesses, and hobbyists, we knew we had to get involved," said Michelle McBane, Investment Director at the Investment Accelerator Fund, a fund that invests in innovative technology and advanced manufacturing start-ups in Ontario and a partner in the investment with Sandstone.
Before securing the $2-million investment, Matter and Form Inc. launched a crowd-funding campaign on Indiegogo.com, hoping to raise $81,000 to cover their startup costs. They raised almost $500,000.
The Indiegogo backers, along with customers who pre-ordered online, will receive the first Matter and Form 3D Scanners as they leave the factory this week. Barring any custom delays, users in the US, Canada, the UK, Japan, and China will be scanning in 3D from the comfort of their homes, offices, and studios by the end of August.
Matter and Form Inc. recently launched its Approved Reseller program and has signed non-exclusive distribution deals worldwide. The Matter and Form 3D Scanner is available through https://matterandform.net. To see video of how the scanner works, please visit http://vimeo.com/100512780 and to learn more about the company's leaders, please visit https://www.youtube.com/watch?v=AWiwVAbpnkE.
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Matter and Form Inc. (formerly Matterform) was founded by designers and programmers who needed a high-resolution 3D scanner but couldn't afford it; so they made their own. Determined to help others do more in their creative, professional and recreational lives, they launched an extremely successful Indiegogo campaign, surpassing their goal of $81,000 and raising nearly $500,000 in the spring of 2013. The first product, the Matter and Form 3D Scanner, is shipping worldwide. The company has recently launched its Approved Reseller program and has signed non-exclusive distribution partners worldwide. Please visit www.matterandform.net.
SANDSTONE Asset Management Inc. is a Calgary based firm that offers discretionary investment management services to private individuals, foundations, and family trusts. Our pride of ownership is evident through our passion for investing and our dedication to providing DIRECTION, CONFIDENCE, and INDEPENDENCE to every relationship we build. To learn more visit: www.sandstoneam.com
The Investment Accelerator Fund (IAF) (@MaRSIAF) provides seed funding to qualified emerging companies in Ontario. A critical component of the Ontario Network of Entrepreneurs (ONE), the IAF supports the launch and development of innovative companies in Ontario's priority sectors of information technology, advanced materials and manufacturing, cleantech and life sciences. To learn more, visit http://iaf.marsdd.com.
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