9T Labs secures seed round and starts incubation program with European Space Agency
Zurich, Switzerland (January 23, 2018) - 9T Labs, a company building 3D printers that produce carbon composites, has successfully closed a seed round of CHF 300,000 with two Swiss angel investors from the Swiss ICT Investor Club (SICTIC). In addition, it was accepted into ESA’s Business Incubation Center. This program contributes up to EUR 200,000 over two years to help start-ups develop technologies for space applications.
Automotive, (aero)space, medical and other industries are restricted in their use of carbon composites for lightweight construction due to the expensive and time-consuming manufacturing process. 9T Labs, founded by ETH Zürich graduates Martin Eichenhofer, Giovanni Cavolina and Chester Houwink simplifies the process by bringing a 3D printer to market that processes carbon composites. This makes it cheaper and more flexible to produce the material. Applications can be found in satellites, drones, and prosthetics, amongst others.
Pascal Mathis, co-founder of GetYourGuide, will be joining the board of directors. Dr. Thomas Dübendorfer, ex-Googler and President of the Swiss ICT Investor Club (SICTIC) will join the Advisory Board. Thomas said: “When I saw their 3D carbon printer in operation in the lab, it became obvious to me that this new innovative technology will have a lot of applications in industry. Furthermore, I really liked the team spirit and their deep knowledge."
The money will be used to grow the team with software and hardware engineers and iterate on the current product to meet additional market needs. “Pascal and Thomas bring broad start-up experience that will help us execute smart and fast. The international software engineering background that Thomas has is a welcome addition to our material processing and mechanical background and allows us to create an optimized product.” says Chester Houwink, Co-Founder of 9T Labs.
The company is planning another financing round later this year. More information about 9T Labs can be found on the website, 9tlabs.com.