3D scanner start-up Fuel3D raises $1.1m to focus on medical imaging

A start-up that is developing what it claims will be the world’s first affordable 3D scanner today announced it has raised a further $1.1m in venture capital investment from an NHS-backed technologies fund.

The investment, from the Small Business Research Initiative for Healthcare (SRBI Healthcare), will be used to develop the Cambridge-based company’s technology for a range of therapeutic and medical applications.

Founded as a spin-out of an Oxford University project, Fuel 3D Technologies was in fact originally created with healthcare applications in mind (as Eykona), but since developed into a consumer-focused company aiming to produce the world’s first affordable, handheld 3D scanner.

The start-up successfully raised more than $300,000 from members of the public on rewards-based crowdfunding platform Kickstarter in order to develop its Fuel3D scanner, following which it secured a further £1.6m backing from a syndicate of private investors this February.

SRBI’s backing will be used to develop the healthcare potential of Fuel 3D’s technology, alongside continued development of its handheld consumer devices.

Announcing the funding, Stuart Mead, CEO of Fuel 3D Technologies, said: “As our core technology was originally developed with medical imaging applications in mind, so we are delighted to have secured this contract in order to ensure that, under Fuel3D, the Eykona scanning technology continues to play a role in the healthcare sector.

“This contract runs in parallel with our plans to deliver a consumer-grade 3D scanner, and we are looking forward to shipping the first units to our Kickstarter backers within the next few weeks.”