Desktop 3D printer company Formlabs Inc. has raised $19 million in its first financing round. DFJ Growth led the round, joined by Pitango Venture Capital, Innovation Endeavors , and private investors. Formlabs will use the capital to expand its product, design, and research teams, and expand its marketing and customer support staff internationally.
The financing follows Formlabs' breakout Kickstarter campaign last year, when it raised $2.95 million from thousands of backers in 35 countries on the crowdfunding site. It added that it has shipped over 900 of the original printer rewards in its Kickstarter campaign.
Formlabs was founded in 2011 by Maxim Lobovsky, Natan Linder, and David Karnor from the MIT Media Lab, with the goal of changing the 3D printer market to make it accessible for designers, engineers, and artists. The company says that its product, the Form1, can create complex 3D geometric models and delicate items with the high resolution and surface finish needed for digital design and production.
"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," said Maxim Lobovsky said, "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."
Published by Globes [online], Israel business news - www.globes-online.com - on October 24, 2013
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