05-28-2014: MOD-t - the cheapest 3D printer of that time, was launched on Indiegogo
The printer was created by New Matter
On May 28, 2014, New Matter - an American startup founded by Steve Schell, launched its debut campaign on Indiegogo, presenting MOD-t - the cheapest 3D printer at that time. The campaign was a great success, and the company raised as much as $650,000 for the development of its 3D printer.
Unfortunately, despite the warm reception by the market and reviewers, the company did not stay on the market for long, closing its operations after only 4 years...
MOD-t had a very small build area of 15 x 10 x 12.5 cm, but it stood out for its very original and interesting printbed drive solution. In MOD-t, the extruder moved only in the Z axis, while the bed in the XY axes, using two shafts with gears located crosswise under the bed. It used only PLA (no heated bed) but was quite innovative in terms of communication and the whole ecosystem. And what’s more, even though the 3D printer was very simple - even crude in terms of construction, it was very aesthetically made. But most importantly - it had a very low price.
The MOD-t was offered at Indigogo for an incredibly low price of $149 to the first 500 backers. After the first 500, the price rose to $199 for the next 1000 backers. Once those sold out, backers could still buy the 3D printer for just $249. Even by today's prices and standards, it's a really low price...
Initially, the MOD-t printer enjoyed great interest and positive reviews. New Matter also sought to develop a community around its products by providing an online platform where users could share their designs and ideas. However, the company also faced many challenges. In the following years the 3D printer market was becoming more and more competitive, with many companies offering very similar products aimed at the very same clients. Despite initial success, New Matter had difficulty maintaining the pace of innovation and adapting to changing market needs.
In January 2018, New Matter announced that it was discontinuing operations. The company said it was unable to achieve long-term profitability in the competitive 3D printer sector. The termination of operations included the closure of the online platform and support for MOD-t users.
Source: www.3dprint.com