3D Printer Company Formlabs Raises $19 Million
Formlabs is a 3D printer company that is known for building the Form 1 3D printer. Formlabs has raised $19 million in Series A funding as a follow-up to their $3 million Kickstarter crowd-funding campaign. DFJ Growth led this round of funding. Pitango Venture Capital, Innovation Endeavors, and several angel investors also participated in this round. Based in Somerville, Massachusetts, Formlabs will be using the funding to expand their manufacturing, marketing, and customer support. Formlabs will also use the funding to grow internationally.
According to GigaOM, The Form 1 3D printer is known for being a stereolithography printer. This means that it can print objects using liquid resin rather than plastic. A laser cures one layer of resin at a time. Traditional 3D printers lay down layers of melted plastic that hardens. This means that the Form 1 is quiet and does not have that strong plasticky smell. The prints are also higher in quality.
The Form 1 has a high cost of about $3,299 though. Based on this price, it appears to be targeting higher-end manufacturing facilities rather than everyday hobbyists.