Over 2 Million Euro In Pre-Launch Investment For Austrian 3D Printing Startup mything

Published on:

mything aims to become a central, international platform for additive manufacturing products made by local manufacturers for end customers. The official launch is in late autumn, 2017.

The 3D printing startup mything.com has cause for celebration even before its planned marketplace goes online: investment running into the millions has already been secured. The well-known Austrian venture capital supplier KaPa Ventures is investing a total of EUR 2.1 million in the ten-strong team led by CEO and co-founder Florian Mott who has already held management posts in the digital sector at companies that include bwin and Telekom Austria.

It is rare for a venture capital firm to invest millions in an Austrian startup. Especially before the business is up and running. This is something that mything CEO Florian Mott is very aware of: “We are starting from a privileged position which entails a corresponding level of responsibility. We have worked hard for this chance and now it is up to us to focus on taking the next steps.”

Before embarking on this new venture, Mott held a management post at bwin, where for years he was head of International Brand Management, Marketing & Communications in London and Vienna. Earlier positions held by the Vienna-born Mott include head of advertising at Telekom Austria. “We can, if you like, be described as a more grown-up startup owing to the experience that I myself, our team and our investors with decades as internationally successful serial entrepreneurs have. The topic of digital fabrication, and additive manufacturing in particular, and its enormous future potential has at any rate been something that all those involved have been really excited about for some time now.”

Investor Gerhard Pail: “Time to make 3D printing available for use by a wide range of customers”

The duo of investors behind KaPa Ventures, the worldwide web pioneers from Graz Frank Kappe and Gerhard Pail, are convinced of mything’s enormous potential, as Gerhard Pail explains: “We have often been in the fortunate position of anticipating major trends. In the early 1990s Frank Kappe ran one of the world’s first ten web servers. And with collaborative cloud services in early 2000 and virtual goods and currencies in 2007 we were among the first to back the new development. In our view, now seems to be exactly the right moment to make 3D printing widely available for customers at long last.”

His investment partner Frank Kappe takes up the story: “3D printing is on the point of entering the mass market. At precisely this sweet spot the moment appears to have arrived to set up a platform that can bring all the necessary partial aspects and players in additive manufacturing together. That is the reason for our considerable investment at this early stage.”

One of the most persuasive arguments for the imminent breakthrough is, according to Kappe: “The expiry of important patents in this sector means that enormous sums are currently being invested in taking the technology to the next level. This development hugely benefits the market and will even gather more momentum. It may sound presumptuous, but additive manufacturing will be the foundation of the next industrial revolution. It is precisely for that reason that we are involved in mything at its inception.”

How mything will work – triangular marketplace for designers, manufacturers and customers

So what exactly is mything? What are its aims and what chance does it have? Founder Florian Mott explains: “In the near future mything.com should be the international marketplace for local additive manufacturing. It will be a central platform where designers, manufacturers and customers can meet easily. Besides this three-sided marketplace, local manufacture in 3D printing shops is at the heart of the platform. Several exist already and their number is rising fast. In future they will be as common as copy shops, sub-post offices and other local suppliers.”

Local production on demand: The model for the future

Currently, continues Mott, many products such as spare parts are still manufactured centrally and then shipped around the world to the buyer. This leads to high costs (for transport and storage, for instance) and also causes unnecessary harm to the environment. This is precisely what mything.com intends to change with its disruptive model. “Many papers by acknowledged experts confirm that in future only 3D data will be sent around the world instead of physical commodities. Production follows the principle ‘Think globally, act locally’ and takes place in a local factory near the customer. This results in reduced costs – through on-demand production, for instance – and significantly shorter delivery times.”

Great potential for personalization: First steps in niche markets such as jewelry and accessories
Currently, a comprehensive global platform of this kind does not exist. In order to secure market shares and visibility right from the start, mything will begin in niche markets with the categories “Jewelry”, “Accessories” (home, office, interiors) and “Seasonal” (e.g. Christmas, Valentine’s Day) because it is in these segments in particular that 3D printing brings customers the most benefits thanks to fast availability and the possibility of full personalization. Among the materials that could be used are various types of plastic, precious metals and resin. Besides additive manufacturing, laser-cut production technology with materials such as wood, acrylic, card and felt will also play an important role.

International design competition “my precious plastics” as kick-off

mything has already made a small but significant splash with the international design competition “my precious plastics” that runs until next Sunday. Using the link mything.com/mypreciousplastics exclusive jewelry designs in plastic for 3D printing can be entered until 10 September. An international jury will choose the winning designs. Besides the cash prizes, all entrants will also have the opportunity to offer these and other designs for sale via mything in the coming months. The next design competition, on a Christmas theme, will begin in October. mything CEO Florian Mott says about these first steps: “We want to explore the technical possibilities of additive manufacturing and at the same time receive fantastic designs for our platform and therefore our customers.”

The final steps before the official launch

The platform is currently being finalized and undergoing extensive testing. At the same time, designers and manufacturers are being recruited. The first marketing and sales activities are also starting at mything, whose team is situated in Sektor5 in Vienna and in Graz. So much is already under way, but there’s still plenty in the pipeline – that pretty much sums up the state of things as mything prepares for the official launch. That said, Florian Mott already has the vision fixed firmly in his mind’s eye: “mything is based on additive manufacturing as a globally relevant manufacturing technology. Our aim is that in future many products and commodities for daily use are purchased via our platform and are manufactured digitally and locally near the customer.”



Sharing is caring!