Volumental announces $3M investment


STOCKHOLM - September 2014. Revolutionary 3D customization startup Volumental, based in Stockholm, has taken on one of the largest seed investments in Sweden from Silicon Valley investor FOUNDER.org and Stockholm-based MOOR. Volumental’s cloud-based software enables accurate scanning of the human body using simple 3D depth cameras and will allow individuals to use those scannings to create products that are customized to their own bodies. Several proofs of concepts within orthotics and ecommerce are under way, including a project with Intel using 3D depth- sensing laptops for fitting shoes that was demoed at the Intel Developer Forum in San Francisco on September 10th and may be launched by the end of the year. Volumental envisions a future in which manufacturing is completely individualized and localized and plans to use the investment to keep growing the team and launch their first products on the journey towards that vision.

Volumental’s cloud-based platform builds on two revolutions happening right now: 3D enabled cameras are becoming widely accessible in mobile devices and 3D printers are increasingly accurate, affordable and available. Volumental’s software creates accurate scannings of the human body using simple 3D depth cameras, which hardware manufacturers like Intel have suggested will be integrated into handheld mobile devices and laptops within a year, meaning commercial applications targeting home users will be possible much sooner than anticipated.

FOUNDER.org and MOOR share Volumental’s passion for using 3D to enable a new customized world where the individual is at the center of the production process. Michael Baum of FOUNDER.org first met CEO Caroline Walerud and the team at Volumental when they were selected for the FOUNDER.org Class of 2015. “The next wave of consumer choice will be driven by mass customization and enabled by online configuration technologies like 3D scanning. Volumental is absolutely the best of the best in engineering and productization talent around 3D visualization. We are very excited to work with Volumental and help the world around us transform from one size fits all to customization for everyone,” said Michael Baum.

Mikael Moreira from MOOR, the venture investment firm of Rovio Entertainment Chairman Kaj Hed comments, “There is a huge market being created within customization of products and we at MOOR believe that the Volumental team has the exceptional talent, product ingredients, and vision, needed to build this market. We are really fired up about working together with the entire Volumental team.”

Volumental’s 3D scanning and modeling software originated with a 2012 research project at the Royal Institute of Technology in Stockholm. Today the international team consists of 16 people with experience within research at NASA, Google, Cambridge, Oxford, Stanford and four PhD level computer vision researchers. The current project with Intel adds to the early customer list consisting of companies in Europe and Silicon Valley. Volumental plans to continue working with strategic partners to develop their technology further and expand into more industries and geographies.

 

About FOUNDER.org:

FOUNDER.org is an investor and company building program for student entrepreneurs at leading universities around the world. Its intense 8D© Company Building Program fast tracks teams through the challenges of building a high impact company. The hands-on transformative experience is designed to increase the odds of survival and to help young entrepreneurs grow their companies faster and take them further, creating truly impactful ventures. FOUNDER.org provides the funding teams need to get started, investing directly in student startups from partner schools in seven different countries. FOUNDER.org was founded by a team of serial Silicon Valley entrepreneurs who have built billion dollar companies and are now working with the next generation of creative, audacious student founders to positively transform the world around us. Learn more at www.founder.org.

About MOOR:

MOOR is the venture investment firm of serial entrepreneur Kaj Hed, who founded Trema and is the majority owner of Rovio Entertainment, creators of the Angry Birds mega brand. MOOR is based in Stockholm, Sweden and is focused on companies within the digital space, poised for global opportunity. MOOR is an active investor that uses its broad network and experience to add value as it supports its portfolio teams. Visit www.moorcap.com for more information or contact Mikael Moreira at mikael@moorcap.com