Oct.24, 2013
Formlabs, the designers and manufacturers of the Form 1 3D printer, announced $19M in Series A financing today.
DFJ Growth led the round, joined by Pitango Venture Capital, Innovation Endeavors and many returning angel investors. Formlabs will use the capital to expand its design and research teams, grow marketing and customer support capabilities and drive international growth.
Founded in 2011 by a trio of engineers and designers from the MIT Media Lab, Formlabs raised $2.95 million from backers in 35 countries for its high-performance Form 1 3D printer on Kickstarter last year. The Form 1 is a desktop 3D printer that uses stereolithography technology to achieve high resolution 3D printing quality.
Formlabs has seen tremendous growth in the last year. It has now 30 employees and is expanding into an 11,000 square-foot facility in Somerville, Massachusetts. In addition the company is also planning on announcing PreForm 1.0 soon — an easy-to-use, powerful 3D-printing software which will allow anyone to print 3D models with just a few mouse clicks.
Formlabs announced it has shipped over 900 of the original printer rewards in its Kickstarter campaign. Over the past six months, the company has shipped hundreds printers to its earliest backers in more than 35 countries.
"There is still a wide open space in front of us to continue innovating and bringing incredible new products to the market; with these new resources, we'll be able to continue to push the envelope, making extraordinary new tools available around the world," said co-founder Maxim Lobovsky.
Posted in 3D Printing Company
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