InfiMaker has completed a new financing round that includes tens of millions of U.S. dollars from IDG Capital, as the desktop manufacturing company reports more than $4 million in Kickstarter pledges for its K1 five-axis CNC machine. The financing marks another institutional-backing milestone for InfiMaker, following earlier investments from Kunlun Capital.
Kunlun Capital served as the exclusive lead investor in InfiMaker’s angel round and continued supporting the company in its Pre-A financing. Other previous investors include MiraclePlus and Meituan’s Strategic Investments.
The latest funding round included an investment of tens of millions of dollars from IDG Capital alongside participation from other investors.
The financing comes as InfiMaker gains traction with its K1 desktop five-axis CNC machine.
InfiMaker launched the K1 on Kickstarter on August 11. The campaign generated more than $1.5 million in pledges within its first 24 hours, and by August 24 pledges were approaching $4 million. The company subsequently announced that the campaign had surpassed the $4 million threshold.
InfiMaker develops desktop five-axis CNC technology intended to make advanced manufacturing capabilities more accessible to engineers, designers, independent creators, educators and small businesses.
Five-axis machining enables a cutting tool or workpiece to move along multiple axes, allowing users to produce more complex geometries than conventional three-axis machines can typically accommodate.
InfiMaker sees the early crowdfunding response as an indication of demand for professional manufacturing capabilities in a smaller desktop format.
The Kickstarter campaign also gives the company an international distribution and demand-generation channel as it works to introduce its products outside its initial markets.
Proceeds from the latest institutional round will support continued development of InfiMaker’s core technologies and future products.
The company also plans to invest in operational capabilities and international expansion as it moves into its next stage of commercialization.
IDG Capital has invested across artificial intelligence, robotics, intelligent manufacturing and advanced manufacturing, providing InfiMaker with another investor experienced in the technologies and commercialization models surrounding automated production equipment.
The combination of institutional financing and more than $4 million of crowdfunding commitments provides InfiMaker with both additional growth capital and direct market validation as it scales the K1 platform.
