The Formlabs Form 1 3D printer is starting to be seen as THE 3D printer professionals need on their desktop, just today I received an email from a Library Resources team member at a leading UK University informing me that they have invested in the SL 3D printer, which has shipped over 900 units in year one.
Now the company, which grew out of the MIT Media Lab and raised $2.95 million from Kickstarter has announced another round of funding worth $19 million from venture capitalist firms DJF Growth and Pitango.
DJF Growth’s portfolio boasts companies like Twitter, SpaceX and Tumblr, Pitango’s record isn’t too shabby either. Form Labs plan to use the funding from both to disrupt the current state-of-affairs in 3D printing. What with Arburg and HP throwing their hats into the 3D printed ring it could mean a huge shake up to those well established 3D printing vehicles.
"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."
Formlabs has seen tremendous growth in the last year and is now expanding into an 11,000 square-foot facility in Somerville, Massachusetts. "We're going to use every inch. There's a lot of work to do, so we are thrilled to have DFJ Growth and Pitango onboard," said co-founder Natan Linder, "We're looking forward to expanding internationally, and bringing a professional 3D printing experience to people around the world."
"We are very excited to partner with Formlabs on their next phase of growth," said DFJ Growth Managing Director Barry Schuler, who will join the board. "Max and the entire Formlabs team have done an amazing job with the Form 1 printer, a big advancement in the new industrial revolution."
There are other big plans afoot. The company is also planning on announcing PreForm 1.0 soon—a milestone in the development of its easy-to-use, powerful 3D-printing software. Formlabs' PreForm software allows everyone, from novice to professional, to print 3D models with just a few mouse clicks.