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Beamler BV team 9
Beamler BV Amsterdam, NL

Cloud software for 3D printing

Beamler provides users and manufacturers a plug and play cloud software solution for 3D printing. OVERFUNDING NOW TO €200K!

$241.850 INVESTED
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Small_thumb_img-04 Cloud software for 3D printing
INNER CIRCLE
Product

Large manufacturers are transitioning from traditional manufacturing to new production techniques like 3D printing to improve the efficiency and costs of going to market.

However, engineers often have trouble reaping the full benefits of 3D printing, as they lack the information and large outset capital requirements to efficiently transition to 3D printing.

Beamler tackles both problems at once by offering a plug & play cloud-based software solution for 3D printing.

Internet and technologies like 3D printing have made time to market a crucial global race. Despite an increasingly numbers of large manufacturers adopting 3D printing to reduce time to market, 68% of manufacturers experience implementation and operational issues.

Beamler’s software helps larger companies to unlock the full potential of 3D printing technology by providing their engineers, product owners, and designers with up-to-date manufacturing data from a global network of machines. Beamler is cloud-based, which means designers and manufacturers can work together on the product while receiving real-time feedback.

Unique Selling Points

Our 'plug and play' cloud software enables manufacturers to:

  • Convert any 3D model into a printable design, with real time feedback and auto repairs;
  • Obtain automated advice on the production and materials to use for the design;
  • Access a global network of professional 3D printing services;
  • Receive the best production quotes.

Revenue model

  • Beamler charges large manufacturers a 5000 set up fee and a 750 monthly subscription fee; 
  • Beamler takes 10% commission on print jobs.

Achieved so far

  • Participant of the European Union 3D printing Accelerator “FABulous” in which we received a grant of €178.000;
  • Received MIT subsidy of €50.000 from the Dutch Governments’ R&D subsidy budget;
  • Business angels invested thus far €100.000; 
  • Built an extensive network within the 3D printing community;
  • Built working software that ‘reads’ 3D model designs and provides users with data regarding e.g printability, production time and materials;
  • Pilot project with large corporate with revenues of €400 million and two smaller SME companies;
  • Software has already been tested by 15.000 users.

Required investment and purpose

Beamler seeks between €150.000 and 250.000 to finance further growth of the company:

  • Store set up costs;
  • Maintenance and development;
  • Salaries and talent acquisition;
  • Legal and set up costs;
  • Sales and marketing costs.

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Willem-Jan van Loon
Founder

Willem-Jan studied Commercial Economics at the University of Applied Sciences in Amsterdam, The Netherlands. Before starting Beamler he founded two other start-ups in the 3D printing industry: Instrato and 3Dock. He plays field hockey at a high level.
“I envision a world where anyone who has an idea for a thing or product can have it made and have it in his or her hands within an hour."

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Michiel Haijtink
Project manager

Michiel holds a Masters in Communication Sciences from the University of Amsterdam. He has a decade of experience in online journalism, web development and project management.

“I enjoy managing teams and projects. The team at Beamler is the most fun and diverse team I ever worked with.”

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Roberto van Maanen
Backend developer

Roberto studied Biotechnology at the Van Hall Larenstein, University of Applied Sciences in Amsterdam. He studied Information Technology at the department of Computer Science at the VU University in Amsterdam, The Netherlands.

“Working at Beamler allows me to apply my programming skills to the new technology of 3D printing.”

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Gabriele Luca Dini
Designer

Gabriele obtained his BA in Media and Graphic Design in Carrara, Italy, before moving to London to take the MA degree at the Royal College of Art. After working for GUM Design he co-founded the Smart Mobility Start-up Strappo.

“I think in images, waking up everyday to deliver visual clarity and to design information."

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Mark Barretto
Backend developer

Mark has more then 10 years of experience working with web client technologies.

“I am passionate about the maker movement, enabling everyone to manufacture from home, 3D Printing is huge step forward for the Maker movement. The vision of Beamler, allows anyone to experience bleeding edge technology.”

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Gregory de Vera
Technical Engineer

Gregory studied at AMA University in Manila (Philippines) and worked at IBM as an IT Service Desk Analyst before joining Beamler. In his free time he is an avid gamer.

“I like new ideas and new experiences in life. I also love playing a role in a company that strives for a big change not just in 3D printing, but also in the whole world.”

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Rijkje Hoiting
Campaign Manager

Rijkje was country manager at Foodora before joining Beamler as a social media coordinator and campaign manager.

“The world of 3D printing is new to me. But it is very exciting to play a part in it. I believe that 3D printing is the future.”

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Beamler B.V. is a limited liability company registered in the Netherlands under chamber of commerce number 66628059. The company is currently for 100% owned by Willem-Jan van Loon's management entity. 

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At Beamler we have at the moment 7 FTE’s working for the company, five in Amsterdam and two in Manila (Philippines). 

In the short term we want to add three new people to the team: a sales engineer, a dealmaker and a developer.

At Beamler we believe that people thrive when they are given the opportunity to do the things that suit their character, while giving them the room to develop new skills.

The product

Beamler built a platform that streamlines the additive manufacturing proces. It has several built-in tools for 3D model repair and model optimisation and the platform gives advice on material selection and connects to a global network of 3D print services.

Steps:

  1. Upload a 3D model to the platform
  2. Printability check and model repair
  3. Material selection
  4. Request quotes from industrial 3D printing services and place order

Unique Selling Points

  • Instant feedback on design;
  • Automated repair of 3D models;
  • Access to a worldwide network of industrial 3D printing services;
  • Advice on material requirements.

Revenue model

  • Beamler charges large manufacturers a 5000 set-up fee and a 750 monthly subscription fee;
  • Beamler takes 10% commission on print jobs.

Scalability

The platform is highly scalable: Increased usage will attract print services to join the network and the software becomes more powerful as more printers are added to the network. This in turn will drive usage.

Current status

Beamler has built a working demo version of the proposed software;

  • Large database of 3d print materials, industrial machines and 3D print services;
  • 3D model viewer;
  • Model repair;
  • Feedback on design.

Planned developments

  • Q2 2017: stable minimum viable product and growth of database (machines and materials);
  • Q3 2017: development of a scalable back-end and database;
  • Q4 2017: account management and payment system; continued development on technical features.

Target group

Beamler is a B-to-B company focusing on engineers and product developers that work for Tier 1 manufacturing companies.

These companies are active in the automotive and medical industry.

Market size

Despite significant growth, there is a wealth of untapped potential in 3D printing. In fact, 3D printing represents only 0,04% of the global manufacturing market, with prototyping as the leading use today. Wohler’s and Associates believes 3D printing will eventually capture 5% of the global manufacturing capacity, which would make 3D printing a $640 billion industry.” (Source: 3D printing: The Next Revolution in Industrial Manufacturing).

Industrial fasteners market (Tier 1) : $84,9 billion
3D prototyping market: 24.5% =  $20,8 billion

Competition

There are currently about 5 direct competitors in the market (they differ in pricing and in offered features.: 

  • 3yourmind; 
  • Additively; 
  • 3D Hubs; 
  • 3DprinterOS; and 
  • Authentise. 

Customer feedback

We are currently in pilot projects with a large corporate with a revenue of €400 million and two SME's interested in our products and services. 

Customer feedback

From our pilot project partner we received the following feedback: "Beamler is bringing knowledge and products in 3D printing to the table which we are lacking, so a partnership with Beamler would bring us better solutions implemented by people with always the most actual knowledge in 3D printing". 

New customers

Q2 2017: Launch Tier 1 corporate partner;
Q3 2017: Second Tier 1 corporate partner;
Q4 2017: Integrate Beamler software in CAD application;
Q4 2017: Close deals with strategic partners.

Sales pitch

Beamler provides a "plug and play" cloud software that helps engineers from manufacturers to get connected with a smart worldwide 3D print network. Beamler has two components:

Software that provides all information and advice needed to print your product in the best way.

Global Network that gives access to all different types of printers around the world without the huge cost of ownership.

With the Beamler software products get faster to market and engineers make less mistakes. This results in more turnover for a manufacturer in the same time of work.

What has been done before

Beamler is currenlty running 2 pilot projects with customers. These pilots will be finished by the end of July. One of the pilots is a large corporation and the other one is a SME company.

Beamler has also ongoing discussions with 5 potential customers in an advanced stage. We expected to have this quarter 2 other pilot projects which we will get started on.

Marketing & sales channels

Sales:

Direct sales by highly technical sales representatives. We see that going towards 3D Print exhibition is very important to get new leads. Also contacting directly by phone works very well.


Marketing:

Many industries are interested in 3D printing. Our marketing strategy is to focus on automotive and medical industries use very specific channels to reach out to them e.g. blogs, journals and Linkedin.

Marketing objective

We want to invest 100.000 in sales and marketing in 2017. So currently Beamler is already actively going to exhibitions (sales) and making content for blogs and journals (marketing).

When we close the new investment round we can rapidly increase the efforts into sales and marketing. Sales we do in house. Marketing we do partly with a third party.

Partnerships

  • Yobi3D (yobi3d.com), the second largest 3D model search engine;
  • Renderfab (www.renderfab.com), 3d model repair software;
  • FABulous (http://fabulous-fi.eu/), The European 3D Print Accelerator.

Turnover so far

No revenues have been realized sofar in 2017, for 2016 minimal revenues were realized. 

Projected turnover

In the worst case scenario we are expecting to realize the following development of revenues:


2017: € 186.892

2018: € 542.238

2019: € 1.202.382

2020: € 2.376.546

2021: € 4.294.538


In the other attachments you will find revenue development of the more optimistic scenario in the designated profit&loss account.

Assumptions

The following assumptions apply to the worst case scenario. 

# customer corporates and average print expenditure per customer (estimates based on talks actual prospect): 


2017: # 3 - 183.743

2018: # 4 - € 275.614

2019: # 6 - € 385.860

2020: # 8 - € 540.203

2021: # 12 - € 648.244


# customer SME and average print expenditure (based on actual pilot numbers): 


2017: # 6 - € 15.120

2018: # 20 - € 18.144

2019: # 30 - € 21.773

2020: # 40 - € 26.127

2021: # 60 - € 31.353

Invested so far

We have been granted one grant from the European Union of €178.000 as part of the Accelerator Program FABulous. 


An additional grant of €50.000 has been received from the Dutch government as part of the MIT program. 

Both grants were received in the sole proprietorship (Dutch: eenmanszaak) of Willem-Jan van Loon. All intellectual property rights have been transfered to Beamler B.V. upon incorporation of the entity.  

In 2016 we received a seed investment in Beamler B.V. totaling €40.000, while in 2017 we raised sofar an additional €52.000 in convertible loans from 6 business angels. We are having discussions with each individual investor on the terms of these convertible loan, with the intention to apply comparable conditions as this crowdfunding round.

Our team team invested sofar more than €200.000 in unpaid hours and will not be expected to be remunerated for these unpaid hours going forward. These hours have been spend on market research, business case development and product development. 

Investment requirement

For 2017 we have a funding requirement of €300.000, of which €52.000 has been realized already leaving a funding requirement of €248.000. With this crowdfunding campaign we intend to raise at least €150.000 as a minimum amount and a maximum amount of €250.000.

Purpose of investment

Marketing                                                     €100.000
Additional team members sales (2 fte)        €105.000
Additional team members development      €45.000
OPEX                                                          €50.000
Total use of funds                                        €300.000

Return

Terms of the loan

Maturity: 5 years initial term*
Extension: if the convertible loan remains outstanding and unconverted at 5 years, Beamler has the option to extend the maturity by further period(s) of 2 years each, or to repay in whole or in part, until the loan has not been repaid in full or converted in full into depositary receipts
Interest on loan: 7 % per annum
Interest due: accrued so at repayment of the loan 

Conversion to shares

Conversion of loan in 4 events:

  • Loan has become payable i.e. after 5 years or extended period 0f 2 years;
  • Shares in Beamler B.V. are issued to a 3rd party for a minimum of €100,000;
  • An amount is paid by 3rd party to acquire more than a half of existing shares of Beamler B.V.;
  • The initial term or renewed term of the Agreement between lenders and Beamler B.V. expires within a month.

Investors through Symbid will get varying rate of discounts depending on the timing of the conversion ground after provision of the loan i.e.: 

  • 15% discount if the conversion occurred after 3 months, but within 1 year; 
  • 20% discount if the conversion occurs after 1 year but within 18 months ; 
  • 30% discount if the conversion occurs after 18 months.   

Additional funding 

In the financial documentation we have provided a worst case scenario where we will be aiming for a sustainable business case without additional funding. However if we will not be able to reach milestones set in this worst case scenario we might require additional funding. 

In the other attachments we have provided a more optimistic scenario which provides for an additional funding round of at least  with a VC in the future. In case our growth is higher than expected we will require potentially more rounds of funding. These funding rounds will provide the investors in this convertible note the opportunity to convert to shares of Beamler, but can also cause future dilution of the shareholding of investors. In case of a future down round there is an anti-dilution protection for investors who converted to shares in place.  


Exit opportunities

Buy out from a company that is active in the industry. Most likely this could be a company such as Autodesk, Adobe or Microsoft. We are in contact with them and we see that they have funding available to invest in 3D Printing.

Beamler will do financially well and is able to make an offer towards the investors to buy the shares back at a premium.

However, we cannot provide any guarantees one of these scenario's will be realized. 

Risks

Business risks applicable for Beamler B.V.:

  • 3D Print services communicating slowly, because most don’t use a CRM solution or don’t have an API connection. This takes extra days for the 3D model to arrive at the customer.
  • The protection of intellectual property of the design is important for large corporations when they use the Beamler netwerk.
  • Our head developer is based in Manila, because of time difference we have challenges to overcome in communication.
  • Beamler currently doesn’t have a sales engineer and a  dealmaker. We have seen in sales meetings that we are short in materials/machine knowledge (sales engineer) and how to close a deal at are large corporation (dealmaker).
  • Competition: This year large multinationals such as Siemens, GE and SAP are entering the market with material, machine and software solutions. The software solutions have some similarities with our software. 
  • Financial assumptions: due to this increased competition or slower growth of the market we cannot provide guarantuees we will be able to realize our assumptions. 

Specific risks when investing in convertible loans:

  • The Lender agrees that its claims against the Borrower under this convertible loan agreement rank below all other, non-subordinated, claims against the Lender as referred to in Section 3:277.2 Dutch Civil Code (‘BW’).
  • Lender issues a (subordinated) convertible loan to convert at a later stage to depository receipts to become a shareholder of the company. Lender expects an (exponential) growth of value of the company with the possibility to sell the depository receipts with a capital gain. However in most situations such capital gains do take more than an additional five years after conversion to be realized. In exchange for the possibility of a high return in case of a scenario of exponential growth of the value of the company, there is a risk the investment will be lost in case the company is not doing well. 
  • Please read here carefully the risks while investing in shares or loans offered by the companies published on Symbid. Here you can also obtain insight in the default report of Symbid before deciding to invest.