Exciting news in the world of 3D printing! Formlabs, a leading manufacturer of professional SLA printers, has recently completed a successful Series E funding round, securing a remarkable $150 million. This financial milestone has not only strengthened Formlabs’ position in the industry but also doubled its valuation to a staggering $2 billion. Let’s dive into the details of this significant development.
Formlabs: Pioneers in SLA and SLS Printing
If you’re new to Formlabs, they are a renowned name in the 3D printing world, specializing in prosumer and professional-grade SLA (Stereolithography) printers. Their impressive product lineup now includes SLS (Selective Laser Sintering) printing with the Fuse 1 printer. Formlabs’ printers have found applications in a wide array of industries, including healthcare, dental, manufacturing, engineering, education, jewelry, audio, and even entertainment.
A Trusted Choice for Diverse Industries
Formlabs’ reach is extensive, with over 85 million parts produced by its users to date. These parts can be spotted in various settings, from the operating room to the dentist’s chair, from your car to your shoes. Renowned companies like Ashley Furniture, Sennheiser, Google, Mayo Clinic, Northwell Health, and New Balance have placed their trust in Formlabs’ printers for everything from prototyping to manufacturing at scale.
The 3D Printing Renaissance
The 3D printing industry is currently undergoing a renaissance, and Formlabs is at the forefront of this transformation. The market size for additive manufacturing is projected to reach $51 billion by 2026. Max Lebowski, CEO and co-founder of Formlabs, notes that while others have made promises about printers capable of mass production and high-quality parts, Formlabs has actually delivered on these promises. The company’s focus is on enhancing user experiences, improving machine quality, and making 3D printing more affordable.
Staying Private with a Vision
Despite the opportunity to go public through SPAC (Special Purpose Acquisition Company) deals, Lebowski has expressed no intentions of taking Formlabs public just yet. He believes that the company should grow larger and more mature before considering a public offering. This strategic decision allows Formlabs to take its time and ensure they are well-prepared to become an outstanding public company when the time is right.
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