US-based 3D printing system producer Formlabs received $35m yesterday in a series B round funded by design software provider Autodesk and venture capital firm Foundry Group.
Founded by engineers and designers from university MIT’s Media Lab and Center for Bits and Atoms, Formlabs creates and manufactures accessible 3D printing systems. Its main product is a stereolithography 3D printer called the Form 2 that is used by engineers, designers and artists.
The round increased Formlabs’ overall funding to $55m, and the company intends to use the capital to meet global customer demand and expand its R&D activity. It will also collaborate with Autodesk post-investment on software integration and joint marketing initiatives.
Formlabs co-founder and CEO Max Lobovsky said: Formlabs’ efforts over the years in introducing new materials and capabilities have defined the category of professional desktop 3D printing, resulting in significant growth for the company along the way.
“With the new investment, we are excited to develop more powerful tools to enable anyone working with 3D content to create remarkable things. Formlabs will continue to grow the stereolithography business and bring new tools to the world to advance our goal of making digital fabrication more powerful and accessible.”
Formlabs raised $500,000 from angel investors in 2011 before pulling in $19m in a 2013 series A round led by DFJ Growth that included Pitango Venture Capital, Innovation Endeavors and undisclosed existing angel investors. The company also secured $2.8m in a 2012 Kickstarter campaign.
– Photo of the Form 2 courtesy of Formlabs