CGTrader Raises Funding From Intel Capital and Practica Capital to Expand in 3D Printing Market
VILNIUS, Lithuania, February 11, 2014-- CGTrader runs a 3D model marketplace for designers, makers and 3D printing enthusiasts to buy, sell and discover 3D models. The fast-growing marketplace is backed by a strong community of professional 3D designers, who have contributed over 45,000 3D models for sale or download so far. CGTrader currently unites over 35,000 professional 3D designers and helps them supply 3D content for the rapidly evolving 3D printing market.
“When 3D printing reaches mainstream adoption, 3D models will be used to produce physical products for consumer use. Therefore, 3D content will be the key element of the expanding 3D printing ecosystem. CGTrader empowers designers and creative individuals to develop brilliant product ideas, create high-quality 3D models and deliver them directly to millions of customers - bypassing complicated distribution, storage, and logistics processes. We were very impressed with the speed of execution from Intel Capital in the transaction and are looking forward to working with Intel Capital as well as Practica Capital to achieve that vision,” says Marius Kalytis, CEO and founder of CGTrader.
“The opportunity in the 3D printing segment is enormous, and we believe that CGTrader is well positioned to capitalize on this growing trend of ‘capture, create, print’,” says Marcin Hejka, Managing Director of Intel Capital Eastern Europe, Middle East and Africa. “The CGTrader team is a great example of the innovative teams that operate in the Central and Eastern European region and which are able to build globally successful solutions.”
"CGTrader is a fast-growing company that has already established a sizeable footprint in the 3D printing space and is keen to become a leading player in the space," added Klaus Konrad, Investment Director of Intel Capital. "We're excited about being part of their expansion plans and look forward to working with them and providing the tools they need to make this a reality."
Existing investor Practica Capital also participated in the financing round. “We have been impressed by the team’s ability to efficiently attract 3D content to CGTrader and rapidly grow the community of talented 3D designers. 3D printing technology will redefine multiple industries, and CGTrader team uniquely understands the process of creating and distributing digital 3D content.” - says Petras Miciunas, partner at Practica Capital.
CGTrader offers 3D models both for sale and free download. “While there are a number of websites that offer free 3D model downloads for 3D printing, we believe that talented content creators need a platform where they could showcase and monetize their work and trade high-quality digital 3D content. As 3D printing market expands, the demand for 3D models will grow enormously and CGTrader will be placed perfectly to provide 3D content and 3D modelling skills for the world’s needs,” says Marius Kalytis.
CGTrader was started by 3D designer Marius Kalytis and a business angel Donatas Aksomitas in 2011. In early 2013, the company attracted seed investment by Lithuanian venture capital firm Practica Capital and joined its accelerator Startup.lt. Over 2013, the company grew its model library five times to 45,000 3D models, and attracted over 30,000 new members to its community, becoming one of the leading start-ups in 3D design.
CGTrader is a 3D model marketplace backed by a strong community of 3D designers. Founded in 2011 by a 3D designer Marius Kalytis, the company attracted seed funding from Lithuanian venture capital firm Practica Capital in early 2013. CGTrader’s platform enables 3D designers to buy, sell and discover 3D models and participate in a designer-friendly community. As of January 2014, the company has over 45,000 3D models available for sale or download and unites over 35,000 professional 3D designers in the community. CGTrader is based in Vilnius, Lithuania. For more information, please visit CGTrader website: http://www.cgtrader.com or follow @CG_Trader on Twitter.
About Intel Capital:
Intel Capital, Intel's global investment and M&A organization, makes equity investments in innovative technology start-ups and companies worldwide. Intel Capital invests in a broad range of companies offering hardware, software, and services targeting enterprise, mobility, consumer Internet, digital media and semiconductor manufacturing. Since 1991, Intel Capital has invested more than US$11 billion in over 1,339 companies in 55 countries. In that timeframe, 206 portfolio companies have gone public on various exchanges around the world and 344 were acquired or participated in a merger. In 2013, Intel Capital invested US$333 million in 146 investments with approximately 49 percent of funds invested outside North America. For more information on Intel Capital and its differentiated advantages, visit http://www.intelcapital.com or follow @Intelcapital.
About Practica Capital and Startup.lt:
Practica Capital is a venture capital firm established in 2011 by investment professionals and entrepreneurs who exited their businesses. The firm manages EUR 6m Practica Seed Capital fund and EUR 15.7m Practica Venture Capital fund, both established under the JEREMIE initiative, managed by the European Investment Fund and financed from the EU Structural Funds under 2007-2013 Economic Growth Operational Programme of Lithuania. Funds provide early- and later-stage financing to Lithuanian SMEs focusing on innovative and high-growth businesses. Practica Capital also runs business accelerator Startup.lt, which helps young businesses achieve growth potential. By end of 2013, Practica Capital signed 20 investments for €5.3 million in 16 companies from different sectors. For more information visit http://www.practica.lt and http://www.startup.lt.
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