Total amount raised
$103.6 Millions
Latest funding date
August, 2018
Location
Formlabs has successfully raised significant funding across multiple rounds, attracting a diverse group of investors. The company specializes in high-resolution SLA and SLS 3D printers designed for professional use.
Keep reading to explore the intricacies of Formlabs' fundraising journey and the investors backing this innovative platform.
What Is Formlabs?
Formlabs, founded in 2011, is based in Somerville, Massachusetts. The company was established by David Cranor, Maxim Lobovsky, and Natan Linder.
Specializing in high-resolution SLA and SLS 3D printers, Formlabs aims to make advanced 3D printing accessible to professionals across various industries, including dental, engineering, and healthcare.
With a workforce of 501-1000 employees, Formlabs continues to innovate and expand its product lineup, offering comprehensive solutions that include 3D printers, materials, and software.
How Much Funding Has Formlabs Raised?
- Seed Round
- Amount Raised: $1.8M
- Date: November 2011
- Lead Investors: SOSV
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop initial prototypes and establish the company.
- Product Crowdfunding
- Amount Raised: $2.9M
- Date: October 2012
- Lead Investors: -
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To fund the production of their first 3D printer model.
- Series A
- Amount Raised: $19M
- Date: October 2013
- Lead Investors: DFJ Growth
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale production and expand market reach.
- Series B
- Amount Raised: $35M
- Date: August 2016
- Lead Investors: Foundry Group
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance product development and increase manufacturing capacity.
- Series C
- Amount Raised: $30M
- Date: April 2018
- Lead Investors: Tyche Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate growth and expand into new markets.
- Series D
- Amount Raised: $15M
- Date: August 2018
- Lead Investors: New Enterprise Associates
- Valuation at Round: Over $1 billion
- Motivation Behind the Round: To support ongoing innovation and product development.
- Venture Round
- Amount Raised: -
- Date: January 2019
- Lead Investors: Vintage Investment Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further expand the company's market presence.
- Series E
- Amount Raised: $150M
- Date: May 2021
- Lead Investors: SoftBank Vision Fund
- Valuation at Round: $2 billion
- Motivation Behind the Round: To accelerate product development and expand the product portfolio.
Total Amount Raised: $253.7M
Current Valuation: $2 billion
Key Investors
- SoftBank Vision Fund
- Details: SoftBank Vision Fund is a venture capital fund established by SoftBank Group. It focuses on investing in technology-driven companies poised for significant growth.
- Investment Focus Areas: Technology, AI, robotics, IoT.
- Notable Investments: Uber, WeWork, ByteDance.
- Vintage Investment Partners
- Details: Vintage Investment Partners is a secondary fund and fund of funds manager. They specialize in technology and growth-stage companies.
- Investment Focus Areas: Technology, growth-stage companies.
- Notable Investments: SimilarWeb, Outbrain, Fiverr.
- New Enterprise Associates (NEA)
- Details: New Enterprise Associates is a global venture capital firm. They invest in technology and healthcare sectors.
- Investment Focus Areas: Technology, healthcare.
- Notable Investments: Coursera, Duolingo, Robinhood.
- Tyche Partners
- Details: Tyche Partners is a venture capital firm. They focus on hardware, IoT, and enterprise software.
- Investment Focus Areas: Hardware, IoT, enterprise software.
- Notable Investments: Luminar Technologies, Aeva, Innoviz Technologies.
- Foundry Group
- Details: Foundry Group is a venture capital firm. They invest in early-stage technology companies.
- Investment Focus Areas: Early-stage technology companies.
- Notable Investments: Fitbit, SendGrid, Zynga.
What's Next for Formlabs?
Formlabs stands at the cusp of a significant opportunity, driven by the burgeoning 3D printing market projected to reach $51.77 billion by 2026. With the recent $150 million Series E funding led by SoftBank Vision Fund 2, the company is poised to expand its product portfolio and accelerate development. This influx of capital will also enable Formlabs to grow its team across global offices, enhancing its capabilities in mass production and customization.
Future fundraising opportunities appear promising, especially with the backing of influential investors like SoftBank. As Formlabs scales, additional funding rounds or strategic acquisitions could further bolster its market presence. However, the company must navigate challenges such as high costs, technological complexity, and intense competition. Maintaining innovation while scaling operations will be crucial for sustained growth.
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