Somerville startup Formlabs has raised $19 million in institutional capital — a rare feat, even for a company responsible for the top-grossing tech project on Kickstarter.
The makers of the Form 1 3D printer already are expanding into an 11,000-square-foot facility in Somerville and will use the money to expand product research and development, grow customer support teams and drive international growth, said co-founder Maxim Lobovsky.
"There is still a wide open space in front of us to continue innovating and bringing incredible new products to the market," Lobovsky said. "With these new resources, we'll be able to continue to push the envelope, making extraordinary tools available around the world."
DFJ Growth led the financing round, together with Pitango Venture Capital, Innovation Endeavors and several returning angel investors.
"They have an opportunity to become a huge company in the desktop 3D printing space," said Barry Schuler, managing director of DFJ Growth in Menlo Park, Calif.
"We think that's the beginning of a big revolution in the way products are designed and manufactured."
The financing follows Formlabs' breakout Kickstarter campaign last year, when the company raised $2.95 million from thousands of backers in 35 countries for its high-performance 3D printer.
Backers on the crowdfunding site can expect greater service worldwide, new software features and continued innovation in affordable, high-performance digital fabrication tools, Lobovsky said.
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