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Kickstarter Alum Formlabs Raises $19M

Kickstarter Alum Formlabs Raises $19M

Formlabs, an additive manufacturing company that makes the Form 1 printer, announced today that it has closed a $19 million funding round.

The Series A financing was led by DFJ Growth; other investors include Pitango Venture Capital, Innovation Endeavors, and returning angels who participated in an earlier round.

Massachusetts-based Formlabs made headlines a year ago after raising $2.95 million on Kickstarter, selling its high-quality 3D printer for a relatively low price of $2,299.

- Kickstarter Sued Over Project's Alleged Patent Infringement 
- Crowdfunding Portal Kickstarter Dragged into Patent Lawsuit: Why?

Less than a month after its crowdfunding campaign ended, Formlabs found itself again at the center of media attention, this time for a much less joyous reason. 3D Systems, a rival additive manufacturing company that’s been around since 1986, sued Formlabs for patent infringement. The legal debate is over an improvement in the additive manufacturing technique called stereolithography. Stereolithography apparatuses use a laser to solidify liquid resin into thin layers, building one on top of another.

For good measure, 3D Systems also dragged Kickstarter into the lawsuit, accusing it of acting as a “sales agent.”

Formlabs and 3D Systems have been in settlement talks over the past year, and it seems like the two sides are close to resolving the dispute — it’s doubtful that investors would give the company cash otherwise.

Legal troubles aside, Formlabs joins a growing number of companies whose crowdfunding success acts as proof of concept for investors. Others include Ouya, Pebble Watch, and Thalmic Labs.


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