A United States-based Beta.Ventures, has advanced undisclosed funding
to Nigeria’s Elephab Company, to facilitate the
Third Dimension (3D) print towards reproducing parts almost instantly as an alternative to importing
them, reports ITRealms.
The
investment, ITRealms gathered, would
help ElePhab.Co quickly establish themselves as the first major source of 3D
printed replacement and emergency parts for various industries across Nigeria.
Regarding
the investment, co-founders: industrial designer and engineer Anjola Badaru and
Damilola Akinniyi, said, they will use the funds to prove the business model in
Nigeria before exploring expansion to other African countries.
“We
truly believe the future of manufacturing for products used in Africa is in
Africa. We can’t keep importing parts from overseas and then wonder why our
economy is struggling,” they were quoted as saying, pointing out that power is
no longer a barrier to entry for manufacturing in Africa.
“The
3D printers we use consume about 100 watts when printing, which is about as
much energy as a few light bulbs. We could run 2 printers off one solar panel
if we wanted to,” Akinniyi said.
Co-founders
and the general partners of Beta.Ventures, Ike Eze and Ovo Emorhokpor said they believe that the potential
for scaling manufacturing companies in Africa is immense.
“When
you remove power and access to raw materials as barriers to entry, suddenly
manufacturing in Africa looks attractive to investors,” Mr. Eze said.
The
company and product idea came out of the GE Lagos Garage advanced manufacturing
training program. Mr. Badaru was able to refine his business idea, come up with
his first fully functioning replacement part, build a pitch deck and gain
access to investors through the program designed to train individuals on
advanced manufacturing using 3D printing and other advanced manufacturing
techniques.
Patricia
Obozuwu, Director Communications and Public Affairs for GE Africa, which
created and funds the GE Lagos Garage program said, ”In demonstration of GE’s
commitment to skills development on the continent, the GE Garage program was
conceived to produce a new wave of African innovators and entrepreneurs, by
equipping them with modern technologies and business development skills. It is
a springboard for Africans to compete in the fast-evolving work environment of
the future”. She added, “we are particularly delighted and proud of the
progress made by Anjola in turning his idea into a venture in a short time. His
is another of the over forty commendable success stories recorded since the
inception of the Lagos Garage in November 2016.“
The
advanced 3D printing machines the company will use were purchased from Germany
and the US, and are capable of much larger build volumes, speed and a higher
finish quality than household 3D printers. “3D printing is not just for
prototypes anymore. With these professional-grade machines, we can print fully
functional parts in minutes, that now rival the original parts in quality,
durability, and strength,” Mr. Badaru said.
Nonye Dom/GEE
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