Milestones and Momentum: 3DK Tech Latest Updates
We thought it was about time to give you another overview of our progress, so here it is! We're feeling truly thankful for the invaluable connections we've forged with exceptional mentors and dedicated startups. These interactions have underscored the pivotal role of 3D printing in metals for addressing the most pressing challenge humanity faces today: global climate change. We've been busy engaging with various platforms to emphasize the significance of metal 3D printing in combating climate change. Our goal is to demonstrate how we can continue to meet the world's manufacturing needs while drastically reducing CO2 emissions, energy consumption, and material usage by an astonishing factor of 20x. Now, let's give you a comprehensive update on the rest of our endeavors.
TL;DR
Won the Gold Medal with Special Congratulations of the Jury at the 48th International Exhibition of Inventions Geneva in Switzerland.
Attended the 2023 EU-Startups Summit in Barcelona, which acted as a gateway to EU and facilitated the expansion of our advisory board.
Got new advisory board members; Christopher Gibbs, Janko Milunovic, Ivo Remmelg
Completed 2 rounds of the Free Electrons Program (Dublin & Sydney), advancing to the Finals and initiating 2 pilot programs.
Quickly catch up? Let’s schedule 15 minutes here.
Key Asks
Looking for partners for paid pilot programs.
Looking for angel investors and VCs with a specialty in aerospace/hardware.
Do you know any Tier 3 automotive manufacturers/family-run SMEs? We’d like to talk to them.
Any companies/founders in the aerospace field, we’d like to find out their pain-points.
Reach out to team@3dktech.com
In the last quarter, we set up goals and here’s how we did:
Raise an angel round of 200,000 USD (adjusted to 400,000 USD), of which 150,000 is committed - Started
Sign MOU with medical company - Delayed
Monetize on the currently running pilot programs - Delayed
Start 2 pilot programs with 2 utility companies - Achieved
Establish a network of potential partners in the EU - Achieved
Technical Side
Hardware:
Completed 2 new upgrades to the MVP, improving the printer productivity and the printed parts quality.
Upgraded the electrical equipment.
Delivered the 1st part to CLP for testing, and now preparing for the next round.
Software:
Our software platform for predicting the input parameters needed for different materials, currently at 71 metal alloys and eventually to reach 2000, is back up online. You can see the alpha version here: www.3dktech.shop.
Business Side
Identified a Repetitive Equipment Manufacturer (REM) to handle the manufacturing of our commercial grade printers, delivery to our customers, their on-site training, and lifetime printer maintenance.
Canadian-based Torronto stock exchange listed, 3 billion USD in revenue
This means we are derisking our business substantially and allows us to focus on the software side
Based on that update, we have also updated our business model to aid our customers:
integrate metal 3D printing in their workflow
outsource the printing to established manufacturers using our printers
(This will outsource the testing, certification and standard-following to already experienced manufacturers)
We are now a Delaware C-Corp fully owing the HK limited company.
Secured 60K USD from angels and have another 90K soft-commited
Will pitch at the Mema Aftermarket Start-up Challenge in October in Atlanta
Going to the Free Electrons Program finals in October in India
Some final stats
Current burn is $15K/month, with 4 months of runway.
Currently have 15 companies globally interested in our tech and are moving to secure contracts with each
Goals for Q3/4 2023
Finalize angel round by end of year
Deliver stage 2 and stage 3 of parts for CLP
Sign MOU with REM
Attend 3 investor events
Many Thanks!
Are you enjoying our blog posts as much as we enjoy writing them? We hope so! But hey, we always welcome your feedback, suggestions, and comments. So, don't hesitate to slide into our inbox at team@3dktech.com and let us know what you think. We might even throw in a few virtual high-fives too! Stay tuned for more updates on our progress and achievements!
Alex & the Team