Manhattan-based 3-D printing and custom mass manufacturing company SOLS has announced the completion of an $11.1 million Series B funding round to boost its consumer product pipeline. Returning investors include Founders Fund and Lux Capital. New investors include Tenaya Capital and Melo7 Tech Partners.
“This is a pivotal time for SOLS as we aim to bring our mass customized 3-D printed footwear direct to the consumer,” Kegan Schouwenburg, SOLS founder and CEO, stated in a press release. “The vote of confidence we have from our current investors and the additions of Melo7 and Tenaya only continue to validate the need to transform the footwear industry and enhance the way we move.”
The new infusion of capital will be used to prepare for a direct to consumer launch of SOLS dynamic insoles and further develop the company’s portfolio of products.
SOLS also announced the appointment of Terdema Ussery, Dallas Mavericks president and CEO, to its board of directors.
“With his rich background in performance sport from his time at Nike, to his real-world experience and application with the Dallas Mavericks, his insight will be invaluable as we work to transform SOLS into a recognizable, household brand,” Schouwenburg stated.