Formlabs Secures $150 Million in Series E Funding

A significant financial boost has been given to the 3D printing sector this morning. Formlabs, headquartered in Massachusetts, has announced a $150 million Series E funding round.

This investment, spearheaded by SoftBank’s Vision Fund 2, effectively elevates the company’s valuation to $2 billion, doubling its previous worth.

Industry Resurgence and Growth Projections

This announcement coincides with a notable revitalization within the 3D printing industry, which is experiencing a surge in both interest and investment.

Several companies, including Desktop Metal, Shapeways, Velo3D, and Markforged, have recently revealed plans to become publicly traded through SPAC mergers.

Recent projections indicate that the industry is poised to exceed $51 billion in value by the year 2026.

This growth is fueled by advancements in technology, a broadening range of available materials, and increasing efforts to integrate additive manufacturing into large-scale production processes.

Formlabs: A Unique Trajectory

Established in 2011 by students from the MIT Media Lab, Formlabs has distinguished itself within the 3D printing landscape.

The company successfully adapted stereolithography, a process traditionally used in industrial settings, to a more accessible desktop format.

This innovation proved crucial in sustaining the company through a period of industry contraction.

Future Plans and Investment Focus

“Currently, the cost and complexity of many 3D printing technologies hinder their widespread implementation,” stated CEO Max Lobovsky in a press release accompanying the funding announcement.

“Our commitment to enhancing user experience, improving machine quality, and reducing costs is fundamental to our success and the overall expansion of the industry.”

“This investment will enable us to broaden our existing range of SLA and SLS technologies and expedite product development, ensuring we continue to meet the evolving demands of the 3D printing industry.”

Scaling for Mass Production

The substantial funding will be allocated to expanding Formlabs’ global workforce and facilitating the scaling of its technology for mass production – a persistent challenge for many 3D printing technologies.