Norwegian startup gelato has raised $240 million in funding to further tap into the growing “creator economy” and expand into new local production hubs and products, including 3D printing. The company’s hyper-local network of worldwide production partners and software enables orders to be made on demand and near the end-customer, thereby slashing delivery times, waste, carbon emissions and costs. The platform also removes sellers’ need to manage inventory, manufacturing or shipping — allowing them to focus on the more important task of creation.
Insight Partners, SoftBank Vision Fund 2 and Goldman Sachs Asset Management joined existing investors Dawn Capital, SEB Pension Fund, John Hepburn, chairman of Gelato, and Tellef Thorleifsson, CEO of Norfund in the round.
Gelato has already slashed the cost of creating and selling customized products like wall art, clothing and books by connecting small companies with global production partners via its curated and global marketplace. It is a game changer for creators, entrepreneur and businesses alike, and the upcoming addition of 3D printing to its arsenal could be a huge step in solving hyper-efficient local production on a global scale.
