Investment in 3D printing is starting to tick upwards again. Despite various stories of stock drops in recent days, certain companies are raking in cash unencumbered. Take Formlabs, for example, who have recently procured a great $15 Million investment deal from New Enterprise Associates (NEA). Formlabs has also undergone a valuation, showing that the company is worth a staggering $1 billion.
Formlabs has been on a bit of roll recently, raising $100 million dollars in total equity funding overall. They had also raised $30 million round of funding in April according to a pre-money valuation of $840 million. Now, with NEA’s help, they have taken it to the next level and are looking more vital than ever under the new valuation for a round D of funding. Investments in their current round of fundraising include Shenzhen Capital Group Co. Ltd. and Pitango Venture Capital.
Formlabs Raises $15 Million, their annual revenue exceeds $100 million and the company is still growing with about 500 employees. Their multinational operations span the US, Europe, Japan and China. Formlabs has its fingers in many different types of 3D printing, although it’s not clear whether they will be expanding even further.
New Enterprise Associates’ Portfolio
New Enterprise Associates is one of the world’s largest investment firms and has a particular interest in industrial applications. This is not the company’s first foray into additive manufacturing, having secured funding for DesktopMetal as well. Reading their press release, as well as their choice of companies, it’s quite clear that the company has less interest in the consumer side of additive manufacturing, opting instead to work with the industrial side.
On their website, the company states:
“The tremendous demand building for real digital enablement in manufacturing—which we’re seeing throughout our portfolio spanning product design (OnShape), 3D printing for metals (DesktopMetal), and automated manufacturing (Tulip, Upskill)—signals an innovation cycle with a long runway that’s likely to produce a new generation of leaders in manufacturing technology.”
Featured image courtesy of NEA, retrieved via their website.