SoftBank has led the series E round, doubling MIT Media Labs spinout Formlabs’ valuation to $2bn in the process.

Formlabs, a US-based 3D printing technology developer spun out of MIT Media Lab and its Center for Bits and Atoms, received $150m in a series E round yesterday led by telecommunications conglomerate SoftBank’s Vision Fund 2. The round valued Formlabs at $2bn, doubling its previous valuation. Founded in 2011, Formlabs produces 3D printers, materials and software for sectors such as healthcare, where they have been used to manufacture tens of millions of nasopharyngeal swabs for covid tests. The funding will allow the company to further grow its portfolio of additive manufacturing technologies and to hire more staff across its seven offices globally. SoftBank Investment Advisers’ senior managing partner Deep Nishar and investment partner Kirthiga Reddy will join Formlabs’ board as a director and observer, respectively. Nishar said: “We believe the 3D printing industry is currently standing at the precipice of unprecedented growth and is transforming the way products are made. “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 customisation.” Design software producer Autodesk backed a $35m series B round in 2016 together with Foundry Group, and Formlabs has now raised $250m in funding altogether. – A version of this article first appeared on our sister site, Global Corporate Venturing.

Subscribe to go deeper

GCV subscribers get access to all our proprietary data and deep-dive articles, as well as the global directory of CVC investors.



Not sure if you have a subscription?
Thierry Heles

Thierry Heles is the editor of Global University Venturing, host of the Beyond the Breakthrough interview podcast and responsible for the monthly GUV Gazette (sign up here for free).