Somerville-based Formlabs Inc., one of a handful of Massachusetts 3D-printing startups battling to change the future of manufacturing, has raised a $30 million Series C round of investment with an eye toward expanding business in China and the rest of Asia.
The round was led by Tyche Partners, a Silicon Valley-based investment fund founded by Chinese entrepreneur Weijie Yun. Shenzhen Capital Group and UpNorth Investment Limited also participated, as did return investors DFJ, Pitango and Foundry Group. The latest round means Formlabs has raised $85 million since it spun out of the MIT Media Lab in 2011.
The company already employs 300 people in the US, another 100 in Europe, and a handful in China and Japan, with plans to grow worldwide.