Bangalore-Based Fracktal Works Raises $2.98Mn From Neoteric Informatique Limited

Bangalore-based 3D printer maker Fracktal Works has raised $2.98Mn( INR 19 Crores) from Neoteric Infomatique Limited, which is one of country’s IT distributors. The company  has bagged clients like Larsen and Toubro, within six months of its inception and develops desktop 3D Printer Julia. The developed printer is capable of printing bigger models bigger than the world’s popular printer, MakerBot.

The funds raised will be used to expand the teams and increase the skill sets of the startup. Anup Nair, Head of Technology Solutions at Neoteric Infomatique Limited said,” We saw the potential in Fracktal as essentially a design focussed company with competencies around taking an idea or concept through all the stages right up productization.” He further added that the road map is exciting following initial success of Julia.

Rohit Asil ,co-founder, Fracktal said,”We sold a total of 40 printers last year. This year, we’re selling 40 printers within 3 months and we have bagged companies like Cisco and Omega elevators among others.”

Fracktal was founder a year and a half ago by Rohit Asil and Vijay Raghav Varada, engineering students of Manipal Institute of Technology . The company sells its printers to manufacturing firms, product design firms and individuals. It claims that it has a revenue run rate of Rs 40 lakh per annum and aims to touch at least Rs 1.5 crore in sales by the end of this fiscal.

Welcome to Flash Feed, your essential source for breaking news and innovation from around the web – bite-sized and updated all day.

Note: We at Inc42 take our ethics very seriously. More information about it can be found here.