- Founded: 2013
- Ceased Operations: 2019
What did MatterFab do?
MatterFab was a 3D metal printer company that developed a production 3D metal printer solution that removed the limitations of industrial fabrication. MatterFab’s printers used a process called selective laser melting (SLM) to create metal parts. SLM is a type of additive manufacturing, which means that parts are created by adding material layer by layer. This is in contrast to traditional manufacturing methods, which involve removing material from a block of metal. MatterFab’s printers were designed to be more affordable than other metal 3D printers on the market. The company’s printers started at $100,000, which was significantly less than the $1 million price tag of some other metal 3D printers.
MatterFab raised $13.2 million in funding from investors such as Lemnos VC, IU Ventures and Autodesk. MatterFab’s investors were attracted to the company’s potential to disrupt the metal 3D printing market.
Who started MatterFab?
Founder Matthew Burris
Why did MatterFab go out of business?
MatterFab’s printers were designed to be more affordable and easier to use than other metal 3D printers, but they were still too expensive for many businesses. Additionally, the technology for 3D metal printing was still in its early stages, and there was a limited market for the company’s products. MatterFab faced stiff competition from other metal 3D printing companies, such as EOS and SLM Solutions.
MatterFab struggled to raise enough money to fund its operations. MatterFab’s investors were not willing to invest more money, and MatterFab was unable to generate enough revenue to sustain itself. MatterFab was also plagued by management problems. MatterFab’s CEO, Matthew Burris, was accused of mismanaging the company’s finances. Burris was eventually fired, but the damage had already been done.