Change Ventures leads the €2 million investment round to Cloud Factory
Photo: Cloud Factory team
Tallinn-based Cloud Factory has just raised €2 million to bring about a new approach to fine jewellery, using 3D printing technology. The startup will now scale up its approach to producing cost-effective, sustainable and highly scalable jewellery production.
The €2 million seed round was led by EstVCA member Change Ventures, one of the leading early-stage funds in the Baltics.
Participants in the round include Superhero Capital, a seed-stage venture capital firm based in Finland, and angel investors Artis Kehris (Printify co-founder) and Andrius Šlimas (Oberlo co-founder and CEO).
Founded in 2018 by Taavi Kikas (CEO), Kati Kask (COO), Marek Jõeleht (CTO) and Erik Karu, Cloud Factory will use the investment to increase its manufacturing capacities and further develop its online platform for product creation and effortless order management integrations in order to meet the demand and needs of the new era of celebrities and brands.
By taking the power of greentech to the jewellery industry, Cloud Factory is pioneering a new era of jewellery – one that is more resource efficient and leverages 3D printing technology. The idea was conceived while founder Taavi Kikas was working at Estonia’s TalTech University in Tallinn. Taasvi approached fellow employee powder-metallurgy PhD Marek Jõeleht, with an idea to programme the university’s metal 3D printers to print precious metals, and the rest is history as they say.
Cloud Factory uses only natural and sustainable materials and 100% recycled precious metals in the process of making 3D printed jewellery, through an on-demand manufacturing model. This makes the process waste-free, more scalable, and more sustainable.
Kati Kask, Co-Founder and COO of Cloud Factory, commented: “Currently there is no other company in the world offering the same manufacturing model as the one we’ve developed. Our unique in-house printing processes, and post-production operations, enables us to use metal 3D printing for volume manufacturing of high quality jewellery products in a cost-efficient and sustainable way. We are bringing a new dimension to an often outdated sector by simplifying the processes of creating and launching personal jewellery products.”
Rait Ojasaar, Investment Partner at Change Ventures: “The jewellery industry is a lucrative one, and Cloud Factory has brought a new dynamism to it. Most traditional jewellers have long lead times, aren’t hugely sustainable, and don’t offer the hands-on experience that Cloud Factory provides – from initial design ideas, to branding and direct shipping to customers. It’s a business that’s ideally placed for those artists, musicians, and celebrities who are looking for a way to create prime quality and high volume trendy statement jewellery for their fans.”
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Tallinn-based Cloud Factory has just raised €2 million to bring about a new approach to fine jewellery, using 3D printing technology. The startup will now scale up its approach to producing cost-effective, sustainable and highly scalable jewellery production.
The €2 million seed round was led by EstVCA member Change Ventures, one of the leading early-stage funds in the Baltics.
Participants in the round include Superhero Capital, a seed-stage venture capital firm based in Finland, and angel investors Artis Kehris (Printify co-founder) and Andrius Šlimas (Oberlo co-founder and CEO).
Founded in 2018 by Taavi Kikas (CEO), Kati Kask (COO), Marek Jõeleht (CTO) and Erik Karu, Cloud Factory will use the investment to increase its manufacturing capacities and further develop its online platform for product creation and effortless order management integrations in order to meet the demand and needs of the new era of celebrities and brands.
By taking the power of greentech to the jewellery industry, Cloud Factory is pioneering a new era of jewellery – one that is more resource efficient and leverages 3D printing technology. The idea was conceived while founder Taavi Kikas was working at Estonia’s TalTech University in Tallinn. Taasvi approached fellow employee powder-metallurgy PhD Marek Jõeleht, with an idea to programme the university’s metal 3D printers to print precious metals, and the rest is history as they say.
Cloud Factory uses only natural and sustainable materials and 100% recycled precious metals in the process of making 3D printed jewellery, through an on-demand manufacturing model. This makes the process waste-free, more scalable, and more sustainable.
Kati Kask, Co-Founder and COO of Cloud Factory, commented: “Currently there is no other company in the world offering the same manufacturing model as the one we’ve developed. Our unique in-house printing processes, and post-production operations, enables us to use metal 3D printing for volume manufacturing of high quality jewellery products in a cost-efficient and sustainable way. We are bringing a new dimension to an often outdated sector by simplifying the processes of creating and launching personal jewellery products.”
Rait Ojasaar, Investment Partner at Change Ventures: “The jewellery industry is a lucrative one, and Cloud Factory has brought a new dynamism to it. Most traditional jewellers have long lead times, aren’t hugely sustainable, and don’t offer the hands-on experience that Cloud Factory provides – from initial design ideas, to branding and direct shipping to customers. It’s a business that’s ideally placed for those artists, musicians, and celebrities who are looking for a way to create prime quality and high volume trendy statement jewellery for their fans.”
- Read the full article on the investment in EU-Startups
Photo credit: https://unsplash.com/@azntaiji; Cloud Factory