Formlabs builds desktop 3D printers, adapting industrial stereolithography (SLA) into a smaller form factor. Founded in 2011 by MIT Media Lab students and based in Massachusetts, the company also develops SLS technology and materials. Its core product focus is improving user experience, lowering costs, and raising machine quality for broader adoption. The firm faces the industry's longstanding challenge of scaling 3D printing toward mass production. Formlabs raised a $150 million Series E that doubled its valuation to $2 billion amid renewed investor interest in additive manufacturing. The company plans to use the capital to expand global headcount, accelerate product development, and broaden its SLA and SLS portfolio to move toward mass production. Formlabs is a Massachusetts-based startup that develops desktop industrial 3D-printing hardware. It began as a Kickstarter campaign in 2012 and set itself apart by offering industrial 3D-printing capabilities in a desktop form factor. The company has expanded its product lineup with additional desktop manufacturing technologies and is pushing its existing technology toward manufacturing use cases. Its printers caught on with hardware prototypers and it now serves industries including engineering, healthcare and manufacturing. Formlabs employs about 500 people across North America, Europe and Asia. Financially, it has raised $100 million to date and recently achieved unicorn status with a valuation above $1 billion. Formlabs produces desktop 3D printers using SLA technology, moving beyond common FDM machines. The company expanded its offerings last year into 3D printing for manufacturing and added additional desktop machines. It says it will use the new funding to build more product and to meet growing demand abroad, particularly in Asia. China and Japan are highlighted as growing markets, with China recently becoming the second-largest market for 3D-printing technology. CEO Maxim Lobovsky said the company is focused on accelerating profitability and growing revenue at a very fast rate. The company has raised more than $85 million in total funding and is based in Somerville, Massachusetts. Formlabs develops pro-level desktop 3D printers that have attracted attention from hobbyists and prototypers. The MIT‑birthed hardware startup recently picked up an online 3D printing marketplace. Its technology and execution have positioned it as a leading player in the desktop 3D printing market. The company announced a $35M Series B that brings its total investment to $55M. As part of the financing Autodesk invested and will partner with Formlabs to develop collaborative software and joint marketing efforts, though specifics are forthcoming. Foundry Group led the round and its co‑founder Brad Feld will join Formlabs’ board. Formlabs makes the high-resolution Form 1 desktop 3D printer, using a resin-based photopolymerization process to achieve finer detail than many lower-cost machines. The company launched via Kickstarter, raising nearly $3 million after an earlier $1.8 million seed round, and has shipped more than 900 printers to backers. The Form 1 retails at about $3,299, positioning it as a higher-end desktop 3D printer. Formlabs says it will use new funding to expand R&D, develop new printing materials, grow global customer support and servicing, and advance its PreForm model-to-print software toward a 1.0 release. It is also expanding production capacity by moving into an 11,000 square-foot facility in Somerville, Massachusetts. The company says it will keep focus on making the Form 1 the best possible desktop printer while exploring additional market segments as it grows.

Total raised

$249M

Funding rounds

5

Latest round

Series E

Latest activity

May 2021