The Gelato Creators Economy Platform Seeks To Get Into 3D Printing »3dpbm
Ice, a Norwegian-born platform that allows entrepreneurs to produce and ship creations on demand, has raised a total of $ 240 million in new funding. Gelato’s unique business model and global production network take advantage of the growing âdesigner economyâ and lower barriers for creators and entrepreneurs around the world by offering them cost of production and speed of delivery large e-commerce vendors with no upfront investment.
Adam Berger, Managing Director of Insight Partners, will join Gelato’s board of directors. âGelato is a game-changer for the global designer community. With Gelato’s software, an entrepreneur in Africa, for example, with a great idea and little or no capital, can within minutes produce, ship and get paid for their product sold, say in Germany, without an initial investment. in inventory, manufacturing or logistics – and achieve profit margins similar to your competitors 100 times their size. This is leveling the playing field for creators and e-commerce globally and is a huge economic and social opportunity. We believe Gelato solves hyper-efficient local production on a global scale. With the emergence of new technologies such as 3D printing, the organized and global market for Gelato will enable businesses and consumers around the world, âsaid Berger.
The current round is led by New York-based global private equity and venture capital firm Insight Partners with participation from SoftBank Vision Fund 2, as well as funds managed by Goldman Sachs Asset Management and existing investors. , including Dawn Capital, John Hepburn, Chairman of Gelato, SEB Pension Fund, and Tellef Thorleifsson (CEO of Norfund). Adam Berger, Managing Director of Insight Partners, will join Gelato’s board of directors.
The capital injection will accelerate Gelato’s market penetration and growth in the United States and Asia, as well as its expansion into new production centers and local products, including 3D printing. Through its hyper-local network of production and software partners around the world, Gelato solves the challenge of producing and distributing personalized products (such as wall art, clothing, books and home decor) at a global customer base for e-commerce entrepreneurs like Andy Okay and Your Movie Poster and global companies like Canva. As orders are placed on demand and close to the end customer, this reduces delivery times, waste, carbon emissions and costs. Gelato also eliminates the need for sellers to manage inventory, manufacturing, or shipping, giving them more time to focus on creation, sales, and marketing.
The personalized products market is expected to grow from $ 230 billion to over $ 320 billion by 2025, fueling a wave of designers and entrepreneurs selling personalized products online. While companies like Shopify and Etsy have paved the way for these companies to sell their products, and Stripe and Adyen have solved the problems of online payments, Gelato’s platform gives them instant global reach through the local production and distribution anytime, anywhere.
âBy bringing custom product production to local markets across our planet, we enable e-commerce sellers and the designer economy to serve any customer, anywhere, in a much better way. profitable and sustainable, âsays Henrik MÃ¼ller-Hansen, CEO and founder of Gelato. Through software that connects to unused production capacity, our platform is actively involved in transforming global manufacturing as we know it. As e-commerce continues to grow, so will our local production partners and their ability to create jobs in their local communities.
Since Gelato opened up its API-based platform to the e-commerce industry in 2019, it has supported both large companies and individual vendors and creators across the world. In the second quarter, the company recorded annual revenue growth of 120%. Revenue is driven by the company’s API business which grew 320% year-over-year.
âGelato’s custom software platform connects two of the world’s largest industries, the $ 230 billion digital production industry with the rapidly growing e-commerce sector,â said Anthony Doeh, Partner of SoftBank Investment Advisers . In the long run, we believe that the organized Gelato market can redefine manufacturing, breaking down previous barriers allowing individual sellers to access a global consumer base, faster and at lower cost.