Desktop Factory’s most recent status update has some rather dire news: they’ve reduced their spending to overcome a cash crunch. Specifically, they’ve postponed the long-awaited beta release of their sub-USD$5,000 3D printer until they can sort out the cash flow woes.
Desktop Factory has had difficulties over the past year, and that’s something one would expect in a ground-breaking expedition such as they have undertaken. But they’ve come through the technical issues and now require one million USD$ to proceed.
They’ve already secured USD$2M, and need one more million to begin the beta program. However, their existing venture capital investor has an operating rule that they will not release their funds until all funds are secured. Thus, Desktop Factory cannot access the USD$2M and have to cut back right now.
We hope Desktop Factory can find an investor and get back on track, and perhaps that investor might even be a Fabbaloo reader? If you have an interest, we are quite certain that Desktop Factory would like to speak with you. You can contact them here.
Via Desktop Factory