The designers and manufacturers of the Form 1 3D printer, FormLabs, announced another round of funding worth $19 million. Formlabs will use the capital to expand its world-class product, design, and research teams, while growing its marketing and customer support capabilities internationally.
Formlabs has captured imaginations around the world with its high-performance, accessible 3D printer, raising $2.95 million from thousands of backers in 35 countries following the company’s breakout Kickstarter campaign last year. With this latest round of venture capital, Formlabs aims to take the next step in 3D printing.
Venture capitalist DJF Growth’s portfolio boasts companies like Twitter, SpaceX and Tumblr. Form Labs plan to use the funding to disrupt the current state-of-affairs in 3D printing and there could be a huge shake up to established 3D printing with HP entering the fray.
Formlabs announced the near-completion of shipping of over 900 of the original 3D printers for its Kickstarter campaign. Over the past six months, the company has shipped hundreds of printers to its earliest backers a tremendous achievement. Formlabs has seen huge growth in the last year and is now expanding into an 11,000 square-foot facility in Somerville, Massachusetts.
“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,” co-founder Maxim Lobovsky said, “The group we’re putting together to get here is the most creative and passionate team working in 3D printing and I’m personally excited about using this new investment to grow our team and take digital fabrication to the next level.”