Formlabs Buys Pinshape, a 3D Design Marketplace
A bit of consolidation in the 3D-printing market today: Formlabs, a desktop 3D-printer company in Somerville, MA, says it has acquired Pinshape, an online marketplace for 3D designs, based in Vancouver, Canada.
No terms of the deal were given, but it’s a fairly small acquisition. Pinshape has eight employees and got started in 2013. Its investors include 500 Startups, Dave McClure’s seed fund.
The acquisition means Formlabs will gain access to Pinshape’s 3D-printing community and design content, while Pinshape may see more of those designs get out into the world through Formlabs’ printers.
Formlabs now has 160 employees across its Massachusetts and Germany offices, according to a company spokeswoman. She says Formlabs’ sales have doubled since the launch of its Form 2 printer (pictured) in September of last year.
Formlabs was started in 2011 by MIT Media Lab alums Max Lobovsky, David Cranor, and Natan Linder (Lobovksy remains CEO and Linder is chairman). The company ran a Kickstarter crowdfunding campaign, netting $2.9 million, and has raised $20 million-plus in venture funding.
Other 3D-printing startups in the Boston area include Voxel8, Desktop Metal, and MarkForged. Another relevant company is GrabCAD, a design software startup that was acquired by 3D-printing giant Stratasys in 2014.