August 1, 2018 | Massachusetts-based 3D printing company, Formlabs, founded in 2011 by Israeli-born Natan Linder, Maxim Lobovsky of the former Soviet Union, and David Cranor, all alumni of the Massachusetts Institute of Technology (MIT), has raised another $15 million, following a $30 million Series C funding round in April, US business magazine Forbes reports. This means the company’s total funding is at nearly $100 million and now has a valuation that exceeds $1 billion.
The round was led by New Enterprise Associates, with Israel-based venture capital firm Pitango Venture Capital, California-based Draper Fisher Jurvetson (DFJ), and Shenzhen Capital Group Co. also participating in the current round.
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Formlabs, known for raising almost $3 million in a successful Kickstarter campaign the year after it was founded, is also recognized for offering industrial 3D printing in a desktop form for professional engineers and designers.
“We’re more proud of the number of printers we are shipping, but it is nice to see investors recognize that,” Lobovsky told Forbes. The company has sold more than 35,000 printers over the next six years.
The company employs 500 people in North America, Europe, and Asia.