MIT Media Labs spin-off and Form 1 3D printer maker Formlabs raised a total of USD19 million in its recently concluded Series A funding round. The investment round was led by DFJ Growth. Existing angel investors, Innovation Endeavors and Pitango Venture Capital also participated in the round.
Form 1 printing is a process wherein a laser is beamed on a metal surface through a resin layer. The process is called photopolymerization. The result would produce high-resolution 3D printed objects.
Formlabs was founded in 2011. The new funding would go towards research and development of its core product, and growth in its servicing and worldwide customer support.
Formlabs's othe primary focus would also be developing its software. Today, it had announced its plans to release a version 1.0 of its PreForm 3D model-to-3D-print software at the earliest possible time.
On a side note, Formlabs has no plans to release cheaper models of desktop 3D printer. The company told information technology website Techcrunch, "We're focusing on making the Form 1 the best possible desktop printer out there, right now. We'll definitely be exploring more of the market as we grow, but we're keeping our focus on what we do best right now. I wouldn't rule anything out."
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