CGTrader closes new round of funding
Today 3D printing is far from being science-fictional; on the contrary, it seems to evolve as one of the fastest growing markets out there. So, meet CGTrader – a marketplace for designers and 3D printing enthusiasts to buy, sell and discover 3D models.
Recently, the team announced the closing of a successful funding round with Intel Capital and existing investor Practica Capital. The size of the investment as well as the share that was given away in exchange for the financing remain undisclosed. What is known, however, is that the money will help the company expand their marketplace and community, and strengthen its position in the 3D printing market. This means more models, more sales, more 3D designers.
“CGTrader empowers designers and creative individuals to create high-quality 3D models and deliver them directly to millions of customers – bypassing complicated distribution, storage, and logistics processes,” said founder and CEO Marius Kalytis in the press release.
Founded in 2011, CGTrader is a marketplace, which means it allows artists to trade 3D models and in return, the company charges a fee per transaction made via the website. In early 2013, the team attracted seed investment from Lithuanian venture capital firm Practica Capital.
More than 30.000 new members have joined the marketplace over the last year, said the press release. As of January 2014, the company has over 45.000 3D models available for sale or download and over 35.000 professional 3D designers in their community. According CGTrader CMO Dalia Lasaite, the company is now looking to expand its marketplace, grow high-quality 3D content, and add other 3D services for their customers with the goal to become the key platform for 3D design.