{"id":15854,"date":"2013-10-24T11:48:46","date_gmt":"2013-10-24T15:48:46","guid":{"rendered":"http:\/\/sciencebusiness.technewslit.com\/?p=15854"},"modified":"2013-10-24T11:54:11","modified_gmt":"2013-10-24T15:54:11","slug":"3-d-printer-maker-lands-19-million-in-first-venture-funds","status":"publish","type":"post","link":"https:\/\/technewslit.com\/sciencebusiness\/?p=15854","title":{"rendered":"3-D Printer Maker Lands $19 Million in First Venture Funds"},"content":{"rendered":"
\"Form<\/a>
Form 1 printer (Formlabs)<\/figcaption><\/figure>\n

Formlabs<\/a>, a developer of three-dimensional printing technology in Somerville, Massachusetts, secured $19 million in its first venture funding. The financing round was led by venture capital company DFJ, with Pitango Venture Capital, Innovation Endeavors, and returning angel investors.<\/p>\n

Formlabs is a spin-off from MIT’s Media Lab<\/a>, founded in 2011 by three engineers and designers. The company’s main product is the Form 1 printer<\/a> based on a process called stereolithography that it says provides professional-grade results at a more affordable price. Pre-orders for the Form 1, with associated software and post-processing kit, are priced at about $3,300.<\/p>\n

With stereolithography, a laser beam is directed on a thin surface layer of liquid resin that causes the resin to solidify. Subsequent layers of resin build the structure in fine levels of detail, according to the company. Most 3-D printers on the market, says Formlabs, use plastic extrusion methods that do not provide the same level of detail as stereolithography.<\/p>\n

Some of Formlabs’ seed financing came from a Kickstarter campaign<\/a> that raised $2.95 million from more than 2,000 contributors in 30 days in September and October 2012. The company says it already sold some 900 systems in pre-orders.<\/p>\n

DFJ<\/a>, in Menlo Park, California, invests in software, mobile, cleantech, energy,\u00a0 and health care entrepreneurs, particulary in seed and early-growth stages. DFJ says it invested some $7 billion since 1985 in 400 companies, including Skype, SpaceX, Tesla Motors, SolarCity, Twitter, and Tumblr.<\/p>\n

Read more:<\/p>\n