The new toy firm will use the investment to kick-start its 3D printing project.
Makielab is one of forty companies to win £100,000 from the TSB Tech City initiative, pitching against competition from over 200 other start-ups.
In order to unlock the £100,000, winners were challenged to match the sum with private investment, which Makielab has done.
'Tech City' is the UK's burgeoning tech centre located in and around 'silicon roundabout' - which is near Old Street in East London. TSB offered a total pot of £2 million to new firms in the area.
As ToyNews reported in July, Makielab is attempting to fuse a children’s virtual world with toys, realising digital characters as a physical product with 3D printing.
Alice Taylor, Makielab founder told ToyNews: "The money will go towards building the first pipeline to take the digital product to boxed product."
The toy company is now seeking its next round of investment.
The lead product (prototype pictured) was revealed in a blog post on the Makielab website. The firm is now working on 'skin colour, eyelashes, eyebrows, better articulation and joints, plus accessories.'
If you have no idea what 3D printing is, or what it could mean to the toy industry, check out this video.