Investment Update : West Fountain Parallel Fund invested in Series C of Formlabs
In March 2018, West fountain Global Fund LP ("West fountain") and Shenzhen Capital Group Company ("SCGC") completed round C investment in Formlabs, Inc. ("Formlabs"), the global leader of desktop UV curing 3D printing. Other investors included Tyche Partner and existing investors DFJ, Pitango and Foundry Group. This round of financing will be used to broaden the product portfolio and accelerate its global expansion, among which the important markets are China and Asia. This is the second step for the world's largest manufacturer of stereolithography (SLA) printers to enter the Chinese market after the Shenzhen office was opened in early 2018.
Formlabs is a non-metallic 3D printing manufacturer with the largest share of the global desktop SLA market. Its business covers a complete product line of non-metallic 3D printing. At present, it is the only non-metallic 3D printer company with the advantage of desktop-grade 3D printer cost and industrial-grade 3D printer precision. The company was first founded by several MIT students. Established in September 2011, the team consists of passionate engineers, designers and problem solvers to develop an easy-to-use, affordable desktop stereoscopic lithography 3D printer. Starting from MIT, it has multiple offices in Germany, Japan and China, with more than 400 employees worldwide. The company's slogan is "Reinventing 3D Printing", which means dedication to providing powerful and convenient 3D printing tools for professionals and creators all over the world.
The products launched by Formlabs, Inc. include Form 1, Form 1 plus and Form 2 with SLA technology, two post-printing devices, Form Wash and Form Cure, and Form Cell - fully automatic and unmanned non-metallic 3D printing solution. In the future, non-metallic 3D printer Fuse 1 with SLS technology will also be launched.
With more than 100 channel partners and distributors, Formlabs' products are sold to six continents around the world, with an amazing annual growth rate. After investment, West Fountain Parallel Fund will help Formlabs to further land in the Asian market and achieve higher growth.