Online Material Marketplace Inventables Raises $3 Million
Inventables is a “Designers Hardware Store” that sells materials in small shapes and sizes for desktop fabrication. This makes it easier for smaller teams to source materials in smaller sizes and quantities for micro-production runs. Inventables has raised $3 million led by Draper Associates, Dundee Venture Capital, Richard Yoo (Rackspace founder), Georges Harik, and True Ventures. Inventables has raised a total of $5 million thus far.
Inventables is an online marketplace for software, hardware, and materials so that designers and manufacturers can create prototypes and low-volume production runs. Inventables sells the parts, machines, and materials that hardware developers and manufacturers need for building products.
Buyers on Inventables will be able to see what designers have made with the material and how it can be used to develop a product. Inventables develops and sell their own products also like CNC milling machines. Inventables also sells a large selection of acrylic sheets.
Inventables CEO Zach Kaplan said that they are making it possible for a new generation of individuals and companies to sell their own products without having to outsource production.
Inventables plans on using the funding to expand their 25,000 square foot facility in Chicago. Product development, distribution, and engineering will take place there. Kaplan is going to hire an engineering team to develop software and hardware for the company.