Amid Lawsuit Settlement Talks, Formlabs Raises $19M
It looks like 3D printing startup Formlabs could be nearing the end of its time stuck in legal limbo.
That infusion of cash comes amid a major patent lawsuit, in which publicly traded 3D printing company 3D Systems has accused Formlabs of patent infringement. Kickstarter, the crowdfunding website that Formlabs used to raise nearly $3 million in about a month, also has been dragged into the legal fight.
Formlabs and 3D Systems have been in settlement talks for most of this year, however, and the federal judge in their case recently gave the parties more time to iron things out.
Investors must have liked what they were seeing about the legal developments, since I can’t imagine they’d want to kick in a big check just to pay for lawyer bills.
The Series A round was led by DFJ Growth, a later-stage investing arm of the VC firm Draper Fisher Jurvetson. Formlabs says Pitango Venture Capital, Innovation Endeavors, and several angel investors also were involved.
In the meantime, here’s the latest court order from Formlabs’ federal patent suit.