This week, Kickstarter success Formlabs announced it had secured $35 million during a Series B Funding Round, which was led by Foundry and Autodesk with participation from existing investors such as DFJ Growth, Pitango Venture Capital, and Pascal Cagni. Formlabs’ total investment to date is $55 million, and the $35 million will notably enable the company to scale its operations to meet growing customer demand worldwide while growing R&D efforts and extending its reach in the market and ecosystem.
Max Lobovsky, co-founder and CEO of Formlabs, stated:
“Formlabs’ efforts over the years in introducing new materials and capabilities have defined the category of professional desktop 3D printing, resulting in significant growth for the company along the way. With the new investment, we’re excited to develop more powerful tools to enable anyone working with 3D content to create remarkable things. Formlabs will continue to grow the stereolithography business and bring new tools to the world to advance our goal of making digital fabrication more powerful and accessible.”
In addition to the funds, co-founder of Foundry Group, Brad Feld, will be joining Formlabs’ board of directors. He commented:
“From the moment of its founding, Formlabs saw the opportunity in making professional desktop 3D printing accessible and was a key pioneer in the category. While the excitement and hype around consumer 3D printing has waned, the professional 3D printing category has had unabated demand, with Formlabs emerging as the leader in desktop 3D printing.”
“Formlabs has brought a lot of innovation and great execution to the desktop 3D printing market, and Autodesk is excited to invest in the company’s future. But even more importantly, we’re eager to work together to improve digital design and manufacturing for product designers everywhere.”
Pascal Cagni, who was head of Apple in Europe, was also named strategic advisor and will help bolster Formlabs’ expansion efforts across the EMEA territory.
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