R3 Printing’s First Institutional Investor and Joining the Ocean Accelerator
We are proud to announce that we have closed our first institutional investor in Ocean Capital — a Cincinnati-based venture capital firm — as part of our acceptance into the Ocean Accelerator program. Ocean Capital will be investing $50,000 for the further development of the R3 Printhead, our inaugural product.
A few key factors made it clear that Ocean Capital and the team at Ocean Accelerator were a great fit for what we at R3 Printing are working to accomplish.
Proven Track Record of Producing Investment-Ready Startups: Average subsequent-round fundraising for Ocean Accelerator alumni seeking capital exceeds $500,000/round within first year of graduation.
World’s Largest Demo Day: Ocean Accelerator’s 2017 Demo Day was a “sold-out event [that] drew 842 attendees with an additional 1,490 watching the program online”, making it the world’s largest in 2017. Investors from across the globe tuned in to discover the exciting new startups emerging from the Ocean Accelerator.
Substantial Manufacturing Experience: The partners of Ocean Capital and the team at the Ocean Accelerator have a deep background in manufacturing. We’ll be working with them closely to best execute on bringing the R3 Printhead — our inaugural product — to market in 2018.
Selective Screening Process: Ocean Accelerator Class 4 had a 4% acceptance rate.
Value-Add Programming: Ocean Accelerator has a unique curriculum that blends traditional startup guidance with mission-oriented, faith-based education. This approach equips founders with necessary tools for crafting high-growth companies in an authentic, deeply-focused startup environment.
Great Culture Fit: From our first conversation with Scott, Tim, and Lauren over at Ocean Accelerator, it was clear that we had great culture fit dynamics. The aims, goals, and aspirations of both organizations were clearly in sync.
While we are confident that R3 Printing and the respective teams at Ocean are well-aligned, don’t take my word for it alone!
Here’s what Lauren Tiffan, Director of the Ocean Accelerator, said recently about R3 Printing:
“R3 Printing is developing an exciting product for the enterprise additive manufacturing industry. We were absolutely blown away by the work of Paul and Dan in developing their hardware. We believe that the market opportunity for their 3D printing product is substantial and that these are the guys to execute on it successfully.”
What’s next for R3 Printing?
R3 Printing will be moving out to Cincinnati from the end of January through June to take part in the Ocean Accelerator. While in Ohio, we look forward to meeting with the rockstars of Cincinnati’s rapidly-expanding startup community and learning from the best manufacturing experts the Midwest has to offer.
Hardware development will continue internally. We cannot wait to share our developments in the coming months as we move towards bringing this incredible product to market.
Stay tuned; we have big news on the horizon.
Thank you all for tracking our journey. Paul and I appreciate the continued support.