Bring Your Ideas to Life with WOL3D's Affordable 3D Printers

WOL3D is a Mumbai-based startup founded in 2016 by Rahul Chandalia, Shaloni Chandalia, Pradeep Jain, and Swati Jain. The founders got the idea of starting WOL3D from an exhibition where they saw commercial 3D printers and thought of making small 3D printers that could benefit the common people.

WOL3D is India's largest online 3D printing brand and has launched reliable and affordable 3D printers for people. They also offer 3D filament, 3D prototype services, 3D magical pens, and 3D printers. They have supplied more than 25,000 3D printers, out of which 4,000 were supplied to schools.

AIM

The aim of WOL3D, a Mumbai-based startup founded in 2016, is to make 3D printing accessible to the masses. The founders of WOL3D got the idea of starting the company after seeing commercial 3D printers at an exhibition and realizing that small 3D printers could benefit common people.

WOL3D has launched reliable and affordable 3D printers for people and offers 3D filament, 3D prototype services, 3D magical pens, and 3D printers. The startup has supplied more than 25,000 3D printers, out of which 4,000 were supplied to schools. They have also set up ten WOL3D printed experience centers to educate people about 3D printing and showcase their products.

The ultimate aim of WOL3D is to democratize 3D printing technology and make it accessible to everyone. By providing affordable 3D printers and related services, WOL3D has made it possible for people to create their own 3D models and prototypes. This has opened up a world of possibilities for entrepreneurs, artists, and anyone who wants to bring their ideas to life.

Moreover, the startup's partnership with companies like Ola cabs and Samsung shows that 3D printing has practical applications beyond just creating models and prototypes. With WOL3D's 3D printing technology, companies can create customized products, parts, and components, which can improve their overall efficiency and productivity.

BUSINESS MODEL

WOL3D has a unique business model that focuses on making 3D printing technology accessible and affordable to the masses. The company's business model can be explained as follows:

• Product Line: WOL3D offers a range of 3D printing-related products and services, including 3D printers, filaments, prototype services, magical pens, and experience centers. By offering a comprehensive range of products, the company has created an ecosystem of 3D printing that caters to the needs of individuals, schools, and businesses.

• Distribution: WOL3D's products are available on their own website, as well as on online marketplaces like Amazon, Flipkart, and Snapdeal. The company has also set up ten WOL3D printed experience centers across the country, where people can learn about 3D printing and try out the products before buying.

• Partnerships: WOL3D has established partnerships with companies like Ola cabs and Samsung, which use the startup's 3D printing technology to create customized products and parts. These partnerships have helped WOL3D expand its reach and increase its revenue.

• Own Filament Manufacturing: WOL3D manufactures its own filament, which is a necessary product for 3D printing. By producing filaments in-house, the company has reduced its costs and ensured the quality of the product.

• Education: WOL3D has collaborated with schools and educational institutions to provide 3D printing technology and training to students. This has helped the company create a loyal customer base and increased awareness about 3D printing technology.

TARGET MARKET

The company's products and services cater to the needs of different groups of people, including:

• Individuals: WOL3D's affordable and reliable 3D printers are targeted at individuals who are interested in 3D printing technology. The company's products allow people to create their own 3D models and prototypes, which can be used for a variety of purposes, including art, design, and DIY projects.

• Schools: WOL3D has supplied more than 4,000 3D printers to schools across the country, making 3D printing technology accessible to students. The company's products allow students to learn about 3D printing and develop skills that are in high demand in the job market.

• Businesses: WOL3D's 3D printing technology has practical applications for businesses, especially those in the manufacturing and product design industries. The company's partnership with companies like Ola cabs and Samsung shows that 3D printing technology can be used to create customized products and parts, which can improve a company's efficiency and productivity.

• Entrepreneurs: WOL3D's products and services are also targeted at entrepreneurs who want to bring their ideas to life. The company's affordable 3D printers and prototype services allow entrepreneurs to create prototypes and test their ideas before investing in expensive manufacturing processes.

SALES AND REVENUE

In the financial year 2021-22, the company reported sales of 19.6 crore rupees. The company's revenue is generated from various sources, with 65% coming from printer sales, 17% from 3D filament sales, 13% from prototyping services, and 5% from 3D pen sales.

The prices of WOL3D's products vary, with 3D printers ranging from 14,000 rupees to 3 lakhs rupees, while the cost of 3D pens is 850 rupees and the filament cost is 1000 rupees per kg.

WOL3D's projected sales for the current financial year (2022-23) are between 28-30 crore rupees. The company has reported a gross margin of 30-40%, and a profit after tax of 5-6%.

In terms of printer sales, out of 9,800 units sold, 6,000 were sold to individual customers and schools, while the remaining 3,800 were sold to corporate clients for prototype manufacturing. These figures demonstrate that the company has been successful in penetrating different markets and catering to a variety of customers.

FUNDING IN SHARK TANKS INDIA

WOL3D appeared on Shark Tank India seeking investment from the sharks. The owner of the company asked for 1.5 crore rupees for 1% equity in the company.

One of the sharks, Aman, made an initial offer of 80 lakhs rupees for 2% equity and 70 lakhs debt. The pitcher then made a counter offer of 80 lakhs rupees for 1.5% equity and 70 lakhs debt.

After some negotiation, the deal was finalized with Aman for 80 lakhs rupees in exchange for 2% equity and 70 lakhs debt. This means that Aman now owns 2% of the company and has also provided a loan of 70 lakhs rupees to WOL3D.

This funding will likely help WOL3D to further expand their product line and reach new customers. With the backing of a shark like Aman, WOL3D may also be able to access new networks and resources that could help the company grow even more in the future.