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FormLabs Announces $19 Million Funding Round “To Disrupt 3D Printing”

By October 24, 2013. 3D Printers, Business, Featured, News

It seems the current name of the game is full on disruption, what with Arburg and now HP throwing their hats into the 3D printing industry ring. One company that has form when it comes to upsetting the apple cart, and has been doing it since its record crowd-funding round just over a year ago is FormLabs. The company brought to market a low-cost, highly functioning SL 3D printer and has shipped in the region of 900 units in its first year.

Lots of people are really quite happy about it, a few aren’t.

Now though, as FormLabs announces a further funding round — $19 million worth — it looks as though they have the backing to keep on disrupting the status quo. The company has revealed that it has secured the $19M in Series A financing today and that DFJ Growth led the round, joined by Pitango Venture Capital, Innovation Endeavors and many returning angel investors.

The plan is to use this new capital injection to expand its world­class product, design, and research teams, while growing its marketing and customer support capabilities internationally.

According to FormLabs co­founder Maxim Lobovsky: “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. 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.

There’s no denying that Formlabs has seen tremendous growth in the last year and the company is now expanding into an 11,000 square­foot facility in Somerville, Massachusetts where they are planning on using “every inch.”

Apparently, there are other big plans afoot too and these include ‘announcing PreForm 1.0 soon’, and FormLabs considers this to be “a milestone in the development of its easy-­to-­use, powerful 3D­printing software.”

The fun just keeps on coming!

  • Kevin Quigley

    Given the $300m Makerbot sold for, $19m for the next hottest name in 3D printing looks like a pretty safe investment…and I bet every one of those investors are counting days until a big fish chooses to buy.

    • My current guess of top names in home 3DP xmas 2014 by sales that quarter, roughly in order:

      MakerBot
      HP
      Pirate 3D
      BotObjects
      3DS Cube series (with new models)
      FormLabs
      QU-BD
      Ultimaker (mainly EU, with third iteration)
      etc….

      Mainly conjecture: anything could happen – HP could own Stratasys. I don’t see it myself – but then, all of the 3DP insider fraternity failed to predict MakerBot’s acquisition correctly.

      Most 3DP insiders tend towards anti-hype (whereas reality is more inbetween the hype and anti-hype) subconsiously positioning themselves away from the mass media hysteria. That’s not be critical of our ilk as few 3DP insiders have the luxury to research and think as such as ourselves, the author and commentators upon the article thus far.

      Still, by xmas 2014 there will be far more investor interest in 3DP/AM as it becomes evident that it is not a fad. Few investors however seem to understand the exponential rate of change of technology. But then, to be honest, few 3DP insiders do either. I see overly linear analysis all the time. Technological change is changing ever quicker.

      I anticipate ‘affordable’ home metal 3D printing by xmas 2014, xmas 2015 at the very latest. That will bewilder most commentators – but there is real potential in Liquid Metal Jet Printing (LMJP), which will have an affect far greater near future affect than the expiration of the SLS patent, mainly because of cost, and partly Health & Safety concerns. There’s definitely LOTS of interest in it, as the LMJP article has been the most read every week but last since it was written a month ago, second to the article on the ARBURG AKF/APF dev – no article appears to have been as popular in 3DPI’s history.

      Just some thoughts as the future is cloudy… HP will not be the largest corporation entering the sector, of that I have little doubt.

  • econolyst

    I wonder how much they are going to be paying in licence fees to 3D Systems and how much of the series A investment will be used to pay legal fees and damages. It looks like Form-labs and 3DS are working up some sort of deal, as the deadline for their legal response was the 3rd October – this has now been extended by the courts to 3rd November to allow “the plaintiff and defendants time to engage in settlement negotiations”. that reads like an admission of IP infringement guilt to me as you wouldn’t proceed with a funding round of $19M unless you knew you had a long term future and could move forward with a robust business plan knowing your feet were not going to be knocked away from under you.

  • Joe Archuleta

    I was reading on a 3d printing blog, about a customers experience I just wanted to share, basically they bought a form1 3d printer and with in two weeks it was not working, customer service could not figure it out so they had to ship it back, so the next week they received a new replacement and in 3 weeks same problem, so they ship it back, so they get the new one and 3 weeks later they have to ship it back, Would you call this “Bleeding edge technology” I have an acquaintance, who sells Metal sintering 3d printers and he told me , bleeding edge technology is not fun to sell, he is loosing his ass on customer service and many problems from this technology, When he started to sell these printers, he thought he was going to set the world on fire with many sales. Now he is crying about all the bleeding edge problems he did not foresee. He is scared to sell any more machines. From bleeding edge to leading edge, I’m still waiting for the leading edge 3d printer for under $10,0000, the xfabs new line up is looking promising.