Thursday, October 24, 2013

Formlabs Raises $19 million in Funding

Formlabs Raises $19 million in Funding


The Form 1 3D printer from Formlabs
Formlabs, which raised nearly $3 million last year on Kickstarter to produce a high resolution consumer 3D printer, announced today that it has raised an additional $19 million from a group of investors.
Formlabs’ Form 1 printer is based on stereolithography (SLA) technology, which uses a laser to transform resin into three dimensional items. This technology can produce higher resolution objects than the FDM technology used by popular 3D printers like the MakerBot.
The Form 1 sells for $3,300. Formlabs has shipped around 900 units to date.
Last year, shortly after the Kickstarter campaign, 3D Systems sued Formlabs, claiming patent infringement. The suit remains unresolved, but co-founder Natan Linder told the Boston Globe today that “There are conversations going on that we can’t comment on.”
The patent issue is further complicated by the fact that certain key 3D printing patents are set to expire next year.
Formlabs, which is based in Somerville, Mass., was founded in 2011 by a trio of engineers and designers from the MIT Media Lab. The company said it will use the new funds for hiring, expanding international efforts, and improving customer support.