A bit of consolidation in the 3D printing market today: Formlabs, a desktop 3D printer company in Somerville, MA, announces that it has acquired Pinshape, an online marketplace for 3D designs, based in Vancouver, Canada.
No term of the deal has been given, but it is a fairly small acquisition. Pin shape has eight employees and started in 2013. Its investors include 500 Startups, Dave McClure’s seed fund.
The acquisition means Formlabs will have access to Pinshape’s 3D printing community and design content, while Pinshape could see more of these designs released to the world through Formlabs printers.
Formlabs now has 160 employees in its Massachusetts and German offices, according to a spokesperson for the company. She says Formlabs sales have doubled since launching its Form 2 printer (pictured) in September of last year.
Formlabs was started in 2011 by MIT Media Lab alumni Max Lobovsky, David Cranor and Natan Linder (Lobovksy remains CEO and Linder is president). The company ran a Kickstarter crowdfunding campaign, grossing $ 2.9 million, and raised more than $ 20 million in venture capital 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.
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