MIT spinout Formlabs has achieved unicorn status after obtaining $15m from New Enterprise Associates.
Formlabs, a US-based 3D printing technology spinout from Massachusetts Institute of Technology (MIT), has raised $15m in funding from venture capital firm New Enterprise Associates.
The spinout is now valued at more than $1bn. The capital was announced alongside the appointment of Jeff Immelt, former chairman and chief executive of conglomerate General Electric, to Formlabs’ board of directors.
Founded in 2011, Formlabs develops and produces 3D printers, materials and software aimed at engineers, designers and manufacturers in industries such as…
