Fueling Innovation: Top 3D Printing Companies Attracting Billions in Funding and Dominating the Market

The additive manufacturing sector continues to captivate investors globally, emerging as a dynamic and rapidly evolving industry. Over recent years, numerous companies leveraging the power of 3D printing have successfully secured substantial funding, often leading to significant acquisitions and accelerated growth. This surge in investment spans manufacturers, software developers, ambitious startups, and various other players across the entire ecosystem. Notably, the last two years, marked by a global health crisis, have paradoxically fueled business growth in this sector, as companies demonstrated the agility and resilience inherent in 3D printing supply chains. For those intrigued by the financial pulse of this innovative field, tracking the latest 3D printing IPOs and major funding rounds offers a fascinating glimpse into the future of manufacturing. Below, we highlight some of the leading 3D printing companies that have garnered the most substantial investments, propelling them to the forefront of the industry.

Relativity Space

Based in California, Relativity Space is pioneering the future of aerospace by specializing in the 3D printing of rocket engines and entire launch vehicles. Since its inception in 2016, the company has achieved remarkable fundraising milestones, amassing over $1.3 billion in total capital. A significant portion of this came from a monumental $650 million round secured in June, demonstrating immense investor confidence in their vision. Relativity Space’s ambitious goal is to revolutionize space travel by speeding up the production of their fully reusable, 3D-printed rockets. Their current focus is on the Terran R, a next-generation, larger rocket model designed for heavy payloads, which complements the Terran 1 — a rocket slated for its inaugural orbital flight soon. Standing over 65 meters tall with a maximum payload capacity of 9 tonnes to low Earth orbit, the Terran R exemplifies the scale and complexity achievable with additive manufacturing. With such significant financial backing, Relativity Space is unequivocally positioned to conquer space through innovative 3D printing technologies.

Desktop Metal

The American manufacturer Desktop Metal has consistently been a focal point of discussion within the additive manufacturing landscape. Renowned for its rapid growth, the company has made headlines not only for its impressive fundraising efforts but also for its strategic acquisitions, including the notable purchases of EnvisionTEC and ExOne. To date, Desktop Metal has raised more than $711 million. This includes a significant $160 million round in 2019, followed by another $275 million when the company transitioned into public ownership through a SPAC merger, with common shares fully pledged at $10 per share. Desktop Metal’s core mission is to democratize industrial additive manufacturing by developing solutions that are user-friendly, robust, and capable of high-speed production. Their comprehensive portfolio of metal and polymer 3D printing systems aims to make advanced manufacturing accessible for a wide range of applications, from prototyping to mass production, solidifying their position as a market leader in the ongoing industrialization of additive manufacturing.

Carbon

The American firm Carbon, a pioneer in resin-based additive manufacturing, stands out as one of the most successful companies in terms of fundraising over recent years. With a visionary aim to revolutionize how polymer-based products are designed, manufactured, and delivered for a digital and sustainable future, Carbon has successfully accumulated a total of $682 million in investments. As a global leader in digital manufacturing platforms, the company secured more than $260 million in 2019 through a significant growth financing round, co-led by prominent investors Madrone Capital Partners and Baillie Gifford. Additionally, two more substantial funding rounds were announced in the first half of 2020, with one notable investment led by 40 North Ventures. Carbon’s fundraising journey began as early as 2014, allowing it to build a formidable financial foundation that continues to support its advancements in proprietary Digital Light Synthesis (DLS) technology and its expansion into diverse industrial applications.

Markforged

Markforged, a leading multinational manufacturer of industrial 3D printers, has successfully raised an impressive total of $346.8 million across six funding rounds. The company recently completed a post-IPO funding round on July 15, 2021, further solidifying its financial standing in the market. Supported by a diverse group of 12 investors, including recent contributions from Microsoft’s venture capital fund and Wasatch Ventures, Markforged continues to attract strategic capital. In March 2019, the company announced an $82 million round specifically aimed at accelerating its additive manufacturing capabilities for industrial applications, expanding its global footprint, and advancing its product development roadmap. This crucial fundraising was spearheaded by the investment company Summit Partners, a move that also saw Michael Medici, one of Summit’s managing directors, join the Markforged board of directors, bringing valuable expertise to the company’s strategic direction. Markforged is renowned for its innovative approach to composite and metal 3D printing, enabling manufacturers to produce strong, functional parts directly on the factory floor.

ICON

ICON, a revolutionary construction technology company, is dedicated to advancing the additive manufacturing of concrete for building and developing housing. The company has secured significant capital in recent months, demonstrating strong investor confidence in its groundbreaking approach to construction. Specifically, ICON has raised a total of $266.5 million across six financing rounds. A remarkable five of these six funding rounds have occurred since January 2020, showcasing accelerated investment activity. ICON is backed by an extensive network of 30 investors, with Oakhouse Partners and Ensemble VC among the most recent contributors. The largest single injection of capital came just recently, when ICON raised $207 million as part of its Series B round, spearheaded by Norwest Venture Partners. With these substantial financial resources, ICON is committed to its mission of 3D printing more affordable, resilient homes. Beyond terrestrial applications, the company also harbors ambitious plans to take its technology to the next frontier, aiming to construct structures on the moon, a vision supported by financial backing from NASA, underscoring the transformative potential of their technology.

Formlabs

Formlabs, the Massachusetts-based manufacturer of professional 3D printers, has distinguished itself as one of the most financially robust companies in the additive manufacturing sector this year. Since 2019, the U.S. company has successfully raised an impressive $253 million. A pivotal moment occurred this year with a $150 million investment from SoftBank Vision Fund 2 as part of a Series E funding round. This latest capital infusion not only boosted Formlabs’ resources but also doubled its market valuation to a staggering $2 trillion. Such a significant valuation has naturally fueled speculation about a potential Initial Public Offering (IPO) in the near future, indicating strong market confidence in Formlabs’ continued growth and innovation in desktop stereolithography (SLA) and selective laser sintering (SLS) 3D printing technologies, making advanced additive manufacturing accessible to a broader range of professionals and businesses.

Xometry

Founded in 2013, Xometry has rapidly grown to become a leading supplier in the on-demand manufacturing industry, boasting an impressive client roster that includes industry giants like BMW, NASA, and Bosch. Just a few months ago, Xometry made a significant leap by going public with a successful $252 million IPO on the NASDAQ Global Select Market, marking a major milestone for the company and the broader custom manufacturing sector. Prior to its public debut, the manufacturing platform had already secured substantial investments, including $50 million from investors in 2019 and an additional $75 million in 2020. With its share price reaching $72,670 by August 31, 2021, Xometry’s strong performance underscores the growing demand for its AI-powered marketplace that connects buyers with manufacturing capacity, offering a wide array of services including 3D printing, CNC machining, and injection molding.

Velo3D

Velo3D has carved out a unique niche in the additive manufacturing space, particularly for its pioneering SupportFree metallic 3D printing process. This innovative technology allows for the creation of complex geometries without the need for internal support structures, a significant breakthrough that reduces post-processing and expands design freedom. The company’s innovative approach earned it a coveted spot on Fast Company business magazine’s Top 10 Manufacturing Company list. Beyond critical acclaim, Velo3D has also seen substantial financial growth. After successfully securing $40 million across two financing rounds last year, the company made headlines in March 2021 with the announcement that it would become publicly traded as VLD in the latter half of 2021. This transition followed a strategic business combination with AWS Spitfire Acquisition Corporation, a move that positions Velo3D to further scale its advanced metal additive manufacturing solutions for industries demanding high-performance parts, such as aerospace, energy, and defense.

Nexa3D

Nexa3D, a California-based manufacturer of high-speed industrial-grade resin 3D printers, is making significant strides in accelerating the adoption of additive manufacturing. Under the leadership of industry veteran Avi Reichental, the company has consistently attracted investor interest, successfully completing several fundraising events in recent years. A particularly remarkable achievement was its $55 million fundraising round in 2020. This substantial investment is earmarked to fuel the expansion of Nexa3D’s commercial operations and to expedite the market launch of its innovative new products. This figure represents a considerable increase compared to its earlier funding rounds, which valued the company at $12.2 million in 2019 and $17.8 million in another round in 2020. Nexa3D’s proprietary Lubricant Sublayer Photo-curing (LSPc) technology enables print speeds significantly faster than traditional resin systems, positioning it as a key player for applications requiring rapid prototyping and agile manufacturing solutions across various industries.

Arevo

Arevo, headquartered in California, is at the forefront of additive manufacturing for continuous composites, specializing in developing advanced 3D printing systems, proprietary materials, and intelligent software. The company recently garnered attention with the unveiling of its latest large-format composite additive manufacturing system, aptly named Aqua 2. In August, Arevo successfully raised $25 million in a funding round, bringing its total funding since inception to an impressive $60 million. This follows a similarly sized funding round in August 2020, which saw investments from prominent firms such as Defy and GGV Capital. The consistent interest from numerous investors in Arevo is no coincidence; the California-based company is one of the very few globally capable of printing continuous carbon fiber on a large scale. This unique capability allows for the production of incredibly strong, lightweight, and complex parts, making Arevo a pivotal innovator for industries seeking high-performance composite solutions, from aerospace to consumer goods.

nTopology

nTopology, a New York-headquartered company, is redefining engineering design through its advanced software solutions for producing complex geometries, primarily leveraging generative design methodologies. Its flagship software, also named nTopology, provides engineers with unprecedented control over the entire modeling process, enabling them to create intricate, optimized designs previously impossible with traditional CAD tools. After initially securing nearly $10 million in funding between 2016 and 2017, the company successfully raised an additional $20 million in 2019, reflecting growing confidence in its innovative platform. The momentum continued into 2020 when nTopology secured a significant $40 million investment from Insight Partners. This substantial capital infusion is strategically aimed at further enhancing the functionality of its software, pushing the boundaries of design optimization and additive manufacturing capabilities for a diverse range of industries, from medical devices to aerospace.

North American Fundraising Highlights

The North American additive manufacturing landscape is bustling with innovative startups and established players, all vying for market leadership and attracting substantial investments. Many of these companies are setting ambitious goals, with huge projects that demand significant funds. In the burgeoning new space race, Canadian 3D printer manufacturer AON3D recently announced an $11.5 million funding round, bringing its total capital raised to $14.2 million. AON3D has an extraordinary plan: to be the first company to land an end-use 3D printed part on the Moon. This audacious goal seems achievable given their recently closed round led by SineWave Ventures, with strong support from other notable investors including AlleyCorp, Y Combinator Continuity, BDC, EDC, Panache Ventures, and MANA Ventures, all backing their high-performance polymer printing technology.

Another company making waves is the AI-focused 3D printing firm Inkbit. Founded in 2017, Inkbit stands out by producing on-demand, multi-material end-use products by seamlessly integrating machine vision and artificial intelligence into its additive manufacturing process. Following a successful $30 million Series B funding round, led by Phoenix Venture Partners LLC, and building on their $12 million round in late 2019, the startup recently expanded into an impressive 38,000 sq. ft. workspace in Medford, Massachusetts, signaling significant growth and increased production capabilities. Similarly, San Francisco-based startup Oqton is also harnessing the power of AI to optimize additive manufacturing workflows. Having raised $40 million this year, Oqton plans to strategically expand its commercial partnerships in critical areas such as robotic welding and CNC machining, demonstrating the versatility of AI in modern manufacturing.

This past summer, the San Diego-based startup Fabric8Labs successfully raised $19.3 million in a Series A round. This round was notably led by Intel Capital and included investments from other prominent entities such as Lam Capital, TDK Ventures, SE Ventures, imec.xpand, Stanley Ventures, and even American billionaire and TV personality Mark Cuban. This significant investment follows an earlier $4 million in seed funding raised in 2018 for the metal 3D printing company, which specializes in an innovative electrochemical additive manufacturing technique. These fundraising activities across North America highlight the robust investor confidence in 3D printing’s potential to revolutionize industries from aerospace to construction, and beyond, continually pushing the boundaries of what’s possible with advanced manufacturing.

The landscape of 3D printing is continuously evolving, with these major funding rounds and IPOs underscoring the industry’s significant growth and transformative potential. What are your thoughts on these impactful developments in 3D printing? Share your opinions in a comment below or join the conversation on our Facebook and Twitter pages. Don’t forget to subscribe to our free weekly newsletter to receive all the latest news and updates in 3D printing directly in your inbox!