Formlabs has successfully raised $103.6 million over six funding rounds, achieving a valuation of over $1 billion. The company specializes in high-resolution SLA and SLS 3D printers 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 by Natan Linder and Maxim Lobovsky, is headquartered in Somerville, Massachusetts. The company specializes in high-resolution SLA and SLS 3D printers designed for professional use.
With a team of 501-1000 employees, Formlabs is dedicated to making powerful and accessible fabrication tools for professionals across various industries. Their product lineup includes the Form 2 SLA 3D printer, Fuse 1 SLS 3D printer, and the Form Cell manufacturing solution.
Formlabs also offers a range of high-performance materials and advanced 3D printing software, such as PreForm and Dashboard, to enhance the user experience. Their mission is to bring innovative 3D printing technology to the creative hands of professionals worldwide.
How Much Funding Has Formlabs Raised?
- Seed Round
- Amount Raised: $1,800,000
- Date: November 2011
- Motivation Behind the Round: To develop initial prototypes and bring the first product to market.
- Seed Round
- Amount Raised: $2,800,000
- Date: October 2012
- Motivation Behind the Round: To scale production and meet early demand.
- Series A
- Amount Raised: $19,000,000
- Date: October 2013
- Lead Investors: Draper Fisher Jurvetson
- Motivation Behind the Round: To capitalize on growing interest in 3D printing technology and support company growth.
- Series B
- Amount Raised: $35,000,000
- Date: August 2016
- Lead Investors: Foundry Group and Autodesk
- Motivation Behind the Round: To scale operations, enhance R&D, and expand market reach.
- Series C
- Amount Raised: $30,000,000
- Date: April 2018
- Motivation Behind the Round: To further develop product lines and expand global presence.
- Series D
- Amount Raised: $15,000,000
- Date: August 2018
- Lead Investors: New Enterprise Associates (NEA)
- Motivation Behind the Round: To accelerate growth and innovation in 3D printing technology.
Total Amount Raised: $103,600,000
Current Valuation: Over $1 billion
Key Investors
- Foundry Group
- Details: Foundry Group is a venture capital firm based in Boulder, Colorado, co-founded by Brad Feld. The firm focuses on early-stage investments in technology companies.
- Investment Focus Areas: 3D printing, wearable tech, software.
- Notable Investments: MakerBot, Fitbit, SendGrid.
- Autodesk
- Details: Autodesk is a multinational software corporation that makes software for architecture, engineering, construction, manufacturing, media, and entertainment industries. The company is known for its AutoCAD software.
- Investment Focus Areas: Digital design, manufacturing, 3D printing.
- Notable Investments: Carbon, Desktop Metal, Matterport.
- Draper Fisher Jurvetson (DFJ)
- Details: DFJ is a venture capital firm that invests in early- and growth-stage technology companies. The firm has a history of backing transformative companies.
- Investment Focus Areas: Technology, healthcare, energy.
- Notable Investments: SpaceX, Tesla, Skype.
- Pitango Venture Capital
- Details: Pitango Venture Capital is one of Israel's largest venture capital firms, investing in technology and healthcare companies. The firm has a diverse portfolio across various sectors.
- Investment Focus Areas: Healthcare, IT, consumer products.
- Notable Investments: Via, Taboola, Varonis.
- Cagni Ventures
- Details: Cagni Ventures is a venture capital firm founded by Pascal Cagni, former General Manager and Vice President of Europe for Apple. The firm focuses on technology and innovation-driven companies.
- Investment Focus Areas: Technology, innovation, consumer electronics.
- Notable Investments: Not specified.
What's Next for Formlabs?
Formlabs is poised to capitalize on the growing demand for professional desktop 3D printing. With strategic collaborations, such as their partnership with Autodesk, and a focus on expanding their market reach, the company is well-positioned to scale operations and enhance R&D efforts. The global expansion, particularly in the EMEA region, presents a significant opportunity for growth.
Future fundraising opportunities are likely as Formlabs continues to innovate and attract interest from venture capital firms. However, challenges such as maintaining rapid growth, integrating new technologies, and navigating global market dynamics could pose hurdles. Despite these challenges, the company's strong market presence and strategic partnerships suggest a promising future.
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