Formlabs announced today they've raised USD$19M investment to help grow their company. Formlabs produces the Form 1, the first popular resin-based personal 3D printer, which raised an amazing USD$3M on its first Kickstarter campaign just a few months ago.
The new funding, led by venture capital partner DFJ Growth, now enables Formlabs to embark on a very significant growth strategy. According to Co-Founder Maxim Lobovsky:
Our new resources will allow us to serve you, our existing customers, better. We’ll ramp-up manufacturing, increase our support resources, redouble our R&D efforts, and provide better service to our customers around the world. We have a lot of work to do. We’re excited and ready to go.
The Form 1 is only the first leap of many more to come. We have a great deal planned. We are still in the early days of desktop 3D printing, and we’re going to stay at the forefront, working to provide you with the most capable, reliable, and accessible machines. We now have the resources to make that happen.
This enormous funding round and the fact that Formlabs has more or less completed the manufacture and delivery of their first Kickstarter machines, means that the company has transitioned into a new phase. They're no longer one of the many 3D printing startups. Aside from the two corporate giants, Stratasys and 3D Systems, Formlabs is today the most well-funded personal 3D printer manufacturer in the world. They are now a very major player, one with a lot of road in front of them.
We can't wait for the Form 2.