Since launching in May 2023, we've rapidly moved from concept to creation, transcending the typical early stages where most startups are still finding their footing. In just six months, we've gone from CAD designs to unveiling a functional printer and developing battery cells that have successfully completed charge and discharge cycles. This swift progress underscores our commitment to innovation and marks significant strides in battery technology.
Our recent funding round in September 2023, where we raised $800,000 led by SOSV HAX and Pathbreaker Ventures, with additional investment from a syndicate of strategic angel investors, was more than a financial milestone. It affirmed a shared belief in our vision and confidence in our team's capability to realize that vision. This funding has not only accelerated our research and development but also allowed us to achieve key technological milestones ahead of schedule.
The assembly of our Beta 1.0 Hybrid3D printer and the production of the first three battery cells in our San Marcos, Texas lab are testaments to our capabilities and the potential impact of our technology on battery manufacturing's future. These milestones showcase our team's hard work and our innovative approach to solving complex challenges in energy storage.
Reflecting on our journey from this funding event to achieving these significant milestones, it's evident that our story is about strategically using that funding to produce functional outcomes in an impressively short time. This narrative is uncommon in the tech startup world, highlighting our unique position as innovators in the battery technology space.
Looking ahead, the early groundwork forms a solid foundation for our future endeavors. With our investors' support and our team's tireless dedication, we are ready to continue this path of innovation and discovery. Our journey so far serves as a testament to what we can achieve with a clear focus and a team committed to redefining energy storage solutions, setting us up for the next growth and development phase in redefining energy storage solutions.
About Material
Material is a hybrid additive manufacturing company that specializes in producing 3D printed batteries for a variety of applications. Our Hybrid3D™ technology allows us to manufacture batteries with greater efficiency, flexibility, and accuracy than traditional manufacturing methods, resulting in higher performance, and increased customization. The company's target market includes companies in the automotive, aerospace, and consumer electronics industries, among others. By partnering with companies to develop and print custom 3D printed batteries, Material aims to establish itself as a leading provider of agnostic battery solutions for prototyping and low volume production.
