Formlabs Launches New R&D Project in Budapest

American professional 3D printing specialist Formlabs is launching a new research and development project in Budapest.

The investment aims at the creation of a next generation printing ecosystem, including software and hardware components, user support, and seamless cooperation between existing and new, higher-capacity printers.

Supported by the HIPA Hungarian Investment Promotion Agency, the EUR 1.7 million investment will create 15 new highly skilled jobs. Budapest was selected for the project in competition with locations in the United States, Europe and Asia.

Founded in 2011 by three students of the Massachusetts Institute of Technology (MIT) in Boston, Formlabs' mission is to make professional 3D printing accessible and affordable. One of the early team members was Hungarian expert Dávid Lakatos, also from MIT, who has been serving as Chief Product Officer since 2014.

According to company data, Formlabs has sold more than 130,000 printers to date, which have been used to produce approximately 300 million parts and tools. The company is a “double unicorn”, i.e. valued at USD 2 billion. Major investors include Japan’s SoftBank Group. It employs around 750 people worldwide, including nearly 100 in Budapest.