Brand new startup Formlabs Inc. has raised $500,000 of what it plans as a $1.5 million initial funding round, federal documents show.
Cambridge-based Formlabs was just incorporated last month, according to the Massachusetts Secretary of State’s website. The company, which has no website of its own yet, is working on making a low-cost 3D printer that is intended to be affordable enough that “everyday people” could use it to make three dimensional forms, according to its description on the Angel List website.
The filing with the U.S. Securities and Exchange Commission shows that there are three backers in this first funding round for Formlabs, but it does not name them. According to the Angel List website, the company has taken investment from MIT Media Lab Director Joi Ito, Lotus Software founder Mitch Kapor and Freada Kapor Klein. Angel List also names Stephen DeBerry and Ross Fubini, both of Kapor Capital, as “unconfirmed” investors in the startup.
Formlabs was cofounded by Maxim Lobovsky and John David Cranor III, both coming out of the MIT Media Lab. Both men are listed as related persons in the SEC filing, as is company secretary Natan Linder.