Oxford University spin-out, Fuel3D Technologies, has developed an affordable, point-and-shoot 3D scanning system that captures extremely high resolution mesh and colour information of objects. Under its original name of Eykona, the 3D technology had initially been developed for the medical imaging sector but their product has since been adapted for the broader 3D market.
With several key differentiators and an emphasis on both high quality and accessible pricing, the Fuel3D system is a powerful tool with a range of creative applications. As such, the company has built a very competitive position amongst 3D print users, games developers, makers and creators.
Following a highly successful crowdfunding campaign that generated orders for 300 units and has now grown to nearly 2,000 units, the business has established two revenue streams: Consumer (which includes professional sales) and Enterprise (which provides bespoke R&D projects), as well as delivering advanced 3D medical scanning technologies under its flagship Eykona brand.
Well positioned for significant growth, Fuel3D were looking at a £6m round of private investor funding and expecting to more than double in size within 12 months. The leadership team – led by CEO, Stuart Mead (placed by Intramezzo in December 2012) – comprised several experienced and talented individuals in the positions of CFO, CTO and Chairman. However, in order for the business to achieve its growth ambitions, it sought a Chief Operating Officer who would take responsibility for the operations of the business and, importantly, deputise for the CEO when he was overseas developing international sales.
“We now have a COO on board that has already had a significant impact on the business and our ability to meet our growth targets”
Stuart Mead, CEO Fuel3D Technologies Ltd
The venture’s rapid expansion meant that the COO needed to be appointed with some urgency so that Fuel3D could take full advantage of their market position and commercial opportunities. With that in mind, Intramezzo was retained to find both an interim COO who could make an immediate start and act as a safe pair of hands taking the role forward in the short/medium term, as well as a permanent candidate.