Formlabs secures $35 million for 3D printing systems
The company also announced that it has formed a strategic partnership with Autodesk.
Formlabs first entered the 3D printing industry in 2011 and has been growing ever since. The Massachusetts-based company recently announced that it has secured over $35 million in Series B funding from Foundry Group and Autodesk, raising the total investment to $55 million.
The new investment will enable the 3D printing manufacturer to scale operations to meet growing customer demand worldwide, grow R&D efforts, and to extend its global reach.
“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,”said Max Lobovsky, co-founder and CEO of Formlabs.
“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.”
The company is also excited to announce plans to strategically collaborate with Autodesk.
“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,” said Carl Bass, CEO of Autodesk. “But even more importantly, we’re eager to work together to improve digital design and manufacturing for product designers everywhere.”
The 3D printing manufacturer continues to expand into new markets. The company has seen 100 percent growth in annual sales for the third consecutive year and is shipping over 1,000 printers a month.