Nearly $1m raised in just 10 days

Nearly $1m raised in just 10 days

Three young Singaporeans who went online to raise US$100,000 (S$125,000) so they could start making the world's cheapest 3-D printer are suddenly thinking bigger.

"If things keep up, we could break the $2 million or maybe even the $3 million mark," said Mr Brendan Goh, 25, a materials science and engineering graduate of Nanyang Technological University (NTU) and co-founder of the start-up Pirate3D.

The reason for his optimism? Within just 10 minutes of launching their 30-day fund-raising bid on crowdfunding site Kickstarter.com on May 30, they hit their US$100,000 target.

And the money's been rolling in, at the rate of an average US$81,000 a day ever since. As of 11pm on Saturday, the total had hit US$760,000 (S$940,000).

The Kickstarter site lists various projects that need funding and anyone can pledge money to ideas they like, giving anything from US$1.

Those backing Pirate3D have given an average of US$388 each. As of now, everyone who pledges US$397 or more has the option of receiving one of the first Buccaneer printers to be rolled out from December.

So far, the money has come from about 2,000 people mostly in North America, with an estimated tenth of them from Singapore.

With 20 days to go before the drive ends on June 29, a site that tracks Kickstarter projects says Pirate3D is trending towards a total haul of $3.1 million.

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