February 27, 2015
We’ve long heard that the advent of the 3D printer will help people solve everyday problems right in their living rooms, but there haven’t been too many companies that open these doors for us. SOLS, however, is a pioneer in the 3D printing and custom, mass manufacturing market, and today they announced the successful close of their $11.1 million Series B funding round. They let users print custom orthotics right in their own homes.
Participants in the round included Founders Fund, Lux Capital, Tenaya Capital, and Melo7 Tech Partners – Carmelo Anthony and Stuart Goldfarb’s joint fund. Additionally, SOLS announced that the president and CEO of the Dallas Mavericks NBA team, Terdema Ussery, will be joining the board of directors. The funds will be used primarily to boost their consumer product pipeline.
“This is a pivotal time for SOLS as we aim to bring our mass customized 3D printed footwear direct to the consumer. The vote of confidence we have from our current investors and the additions of Melo7 and Tenaya only continue to validate the need to transform the footwear industry and enhance the way we move,” says Kegan Schouwenburg, SOLS founder and CEO.
SOLS enables the personalization of everyday wearables, and their first product, SOLS dynamic insoles, are an example of applications of 3D printing introduced to the consumer market. The new infusion of capital will be used to prepare for SOLS’ direct to consumer launch and further develop its robust portfolio of products that focus on smart technology and responsive real-time products.
“As an athlete, I understand the relationship between high performance, skill, and proper biomechanical alignment. SOLS is a pioneer in 3D printed, comfort custom orthotics and is changing the dynamics of the category – making wearable technology actionable and relevant for the everyday man,” says Carmelo Anthony. “I believe in the ambition of the Company and wanted to be a part of it at the onset.”
Since launching in July of 2013, SOLS has to date raised $19.3 million and has grown their team to over 45 employees. They’ve also established a robust network of over 300 medical professionals that provide medical-grade SOLS in major markets.
The SOLS platform connects the dots between hardware-agnostic scanning, generative design and digital manufacturing to make custom mass manufacturing a reality. By enabling people to have easy access to relevant, far-reaching and custom-fit products, SOLS is striving to bring the world of 3D printing to the mass consumer sector.
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