Intel Capital backs two 3D printing companies

By Nicel Jane Avellana

Feb 11, 2014 07:31 PM EST

Intel Capital has invested an undisclosed amount in two 3D printing companies, a statement about the funding said. The global investment and M&A organization of Intel Corporation dipped its hand in the rapidly-growing world of 3D printing by backing CGT Trader based in Lithuania and makexyz in the US.

Intel Capital President and Intel Corporation Executive Vice President Arvin Sodhani said in the statement, "3-D printing is changing the way individuals and businesses give life to ideas. We're seeing the impact of this technology on numerous industries, including manufacturing, medical, retail and consumable goods, among others. CGTrader and makexyz will drive the development of the ecosystem."

CGT Trader is a 3D model marketplace with a large number of 3D designers in its platform. It offers over 45,000 3D models, giving a place for designers, creators and 3D printing enthusiasts the chance to purchase, sell and discover various 3D content of the highest quality. From only less than 1,000 3D designers in the community in 2012, the number has grown to over 30,000 last year, with members giving positive reactions to inspiration, feedback from peers and the ability to interact in a friendly atmosphere, the statement said.

Meanwhile, makexyz is a platform that links individuals to 3D printers in their area. Customers simply upload their design or select from ready-to-print 3D options from the company's rapidly growing database. They can then collect the finished product afterwards. According to Nathan Tone, the Chief Executive Officer of makexyz, their aim is to help people create stuff and the investment they got from Intel Capital bolsters their effort at a significant scale.

This is Intel Capital's first investment in Lithuania, with the CGT Trader deal led by Intel Capital Investment Director Klaus Konrad. Moreover, Lithuania is the 55th country that the venture arm of Intel Corp has made an investment in. The makexyz transaction, on the other hand, was headed by Ranjeet Alexis, the statement said.

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