Formlabs Achieves Multi-Billion Dollar Valuation with $150M SoftBank-Led Series E Funding, Propelling the Future of Accessible 3D Printing
In a landmark development for the additive manufacturing sector, Formlabs has officially cemented its status as a multi-billion dollar enterprise, securing an impressive $150 million in Series E funding. This significant investment round was spearheaded by SoftBank Group Corp’s Vision Fund 2, signaling strong confidence in Formlabs’ trajectory and its pivotal role in shaping the future of industrial production. With this substantial capital infusion, Formlabs, a recognized leader in the 3D printing arena, will strategically deploy resources to expand its comprehensive ecosystem of additive manufacturing technologies. The company’s current offerings already span a wide spectrum, including advanced 3D printers, innovative filaments and resins, intuitive software solutions, and bespoke 3D printing services. These solutions cater to a diverse range of global industries, from the critical fields of healthcare and dental to the precision demands of engineering and the creative realms of entertainment. The new funding will not only facilitate the growth of its global team but also accelerate initiatives aimed at enabling greater mass production and unparalleled customization capabilities. Crucially, a significant portion of the investment is dedicated to making Formlabs’ cutting-edge products even more accessible and affordable to a broader market, aligning with the company’s long-standing mission to democratize digital fabrication.
This pivotal funding round has propelled the 3D printing powerhouse’s valuation to an impressive $2 billion, effectively doubling its market standing since 2018. This remarkable growth underscores Formlabs’ accelerating influence and the increasing demand for its innovative solutions. Max Lobovsky, CEO and co-founder of Formlabs, attributes the company’s exceptional ascent to a broader, transformative global trend: “The industry is undergoing a renaissance and Formlabs is leading the way.” Lobovsky’s conviction is supported by compelling market projections, as he further elaborates, “The 3D printing industry market size is expected to reach $51.77 billion by 2026, and Formlabs is the company to drive this growth forward.” According to Formlabs, this ambitious drive towards expansion and leadership is already well underway, evidenced by the company’s relentless pursuit of innovation and its consistent introduction of groundbreaking printing technology. A prime example of this commitment to pioneering advancements is the launch earlier this year of the Fuse 1, hailed as the world’s first benchtop selective laser sintering (SLS) printer. This innovation alone significantly lowers the barrier to entry for industrial-grade SLS technology, making it accessible to a wider array of businesses and researchers who previously found such capabilities out of reach due to cost or complexity.
Max Lobovsky speaking at a Formlabs user summit in 2019. (Photo Credit: Formlabs)
Beyond product innovation, the company is firmly dedicated to utilizing this new funding to continue its foundational mission: democratizing access to digital fabrication, encapsulated by the inspiring vision that “anyone can make anything.” Formlabs has meticulously built its reputation on offering industry-leading prices for its professional-grade line of stereolithography (SLA) and selective laser sintering (SLS) 3D printers, which include the highly acclaimed Fuse 1 and the versatile Form Series. This commitment to making advanced technology attainable is not merely a business strategy; it is at the very core of the company’s ethos and is a significant driver of its remarkable success. Lobovsky articulates this philosophy clearly, stating, “Today, most 3D printing technology is still too expensive and difficult to use for widespread adoption. Our laser focus on improving the user experience and quality of these machines while bringing down the cost is central to our success and the growth of the industry.” This focus on balancing high performance with user-friendliness and affordability is precisely what distinguishes Formlabs in a rapidly evolving market, allowing small businesses, educational institutions, and individual innovators to harness the power of industrial 3D printing. By continually refining its hardware, software, and materials, Formlabs ensures that the entire workflow, from design to final print, is seamless and efficient, thereby fostering widespread adoption across diverse professional and creative applications.
Evidently, Formlabs’ steadfast belief in the transformative potential of accessible 3D printing is widely shared, particularly by its new strategic partners. Deep Nishar, Senior Managing Partner at SoftBank Investment Advisers, who will bring his extensive expertise to Formlabs’ Board of Directors, comments with conviction, “Through its high-performance printers, materials and software, Formlabs is pushing the development of 3D printing technology forward and is enabling the era of mass production and mass customization.” Nishar’s insights underscore the strategic alignment between SoftBank’s investment philosophy and Formlabs’ vision for the future of manufacturing. His leadership on the board is complemented by Kirthiga Reddy, Investment Partner at SoftBank Investment Advisers, who will join as a Board Observer. This strategic collaboration between Formlabs and SoftBank signifies a powerful alliance, as together, these entities aim to continually deliver the industry’s most accessible 3D printing technology. This encompasses applications ranging from rapid prototyping and iterative design processes to full-scale production, enabling businesses across the globe to innovate faster, reduce costs, and bring highly customized products to market with unprecedented speed and efficiency. The combined strength of Formlabs’ technological prowess and SoftBank’s global investment expertise is set to revolutionize how industries approach manufacturing and product development, making advanced additive manufacturing a standard tool rather than a niche technology.
The journey for Formlabs has been one of consistent innovation and strategic growth, culminating in this significant financial milestone. This investment not only validates Formlabs’ past achievements but also provides a robust foundation for its future endeavors in expanding the frontiers of additive manufacturing. With the backing of SoftBank, Formlabs is poised to further accelerate its research and development initiatives, exploring new materials, refining existing technologies, and developing entirely new categories of 3D printing solutions. The impact of this growth extends across numerous sectors already benefiting from Formlabs’ products, including the creation of custom medical devices and dental aligners in healthcare, rapid prototyping for complex engineering components, and the production of intricate models and props in the entertainment industry. This funding will empower Formlabs to deepen its presence in these critical markets and venture into new ones, continually pushing the boundaries of what is possible with accessible 3D printing. The future promises even more accessible, powerful, and versatile tools that will enable designers, engineers, and creators worldwide to turn their ideas into tangible realities, truly fulfilling the vision of enabling anyone to make anything.
For those eager to delve deeper into this groundbreaking announcement and its implications, the full press release is available for your review HERE. We invite you to consider: Where do you envision Formlabs heading in the next five to ten years, and how do you think this investment will shape the broader 3D printing landscape? Share your thoughts and predictions with us in a comment below, or join the conversation on our Facebook, Twitter, and LinkedIn pages! For the latest breaking news and insights from the world of additive manufacturing, don’t forget to sign up for our free weekly Newsletter here, delivering the most relevant 3D printing news straight to your inbox!