New York City-based PCB printer manufacturer BotFactory has completed a $1 million seed round of financing, that will further the company’s mission to bring PCB circuit fabrication and assembly to the desktop.
The investment round was led by New York Angels, an angel investor group injecting capital into early-stage to mid-stage companies in the New York area. BotFactory will use the capital to expand sales and marketing efforts in addition to product development.
The Squink Multilayer PCB Printer, that was successfully funded on Kickstarter two years ago, is capable of printing traces on flexible or rigid substrates like Kapton and FR4 or other materials including ceramics and metals using BotFactory’s “Advanced Ink” and “Insulating Ink”. Regular software updates have improved printing, solder dispensing and pick-and-place functionality.
According to BotFactory, a number of Fortune 500 companies, universities and research labs are currently using the Squink printer to reduce their PCB design cycle time and support their innovation and product development efforts.
Small companies or university typically spends thousands of dollars on creating one-off PCBs, with a waiting time of up to several weeks. With Squink users can create fully functional PCBs from start to finish in a complete integrated package.
CEO Nicolas Vansnick commented on BotFactory’s status on the leading edge of a paradigm shift in manufacturing: “We’re just starting to scratch the surface of what is a huge problem for an electronics industry that is only growing faster, driven by new developments like the Internet of Things. Everyone is trying to lower the cost of fabricating one-offs in factories designed to make millions, when we’re miniaturizing that factory and bringing it closer to where it is needed: on the engineer’s desk.”