China’s 3D printing startup LuxCreo raises $30m led by Kleiner Perkins

Photo: ZMorph Multitool 3D Printer/Unsplash

China’s 3D printing manufacturer LuxCreo has raised $30 million in Series B funding round led by Kleiner Perkins and joined by Shunwei Capital and Northern Light Venture Capital, according to a statement on Shunwei Capital’s Linkedin page.

Founded in 2016, LuxCreo is dedicated to large-scale 3D-printing manufacturing, covering software, hardware and materials.  The company had raised its series pre-A financing in July 2018 which was also led by Shunwei Capital.

LuxCreo’s patented LEAP (light enabled additive production) technology enables printing speeds 100x faster than traditional 3D printers with material properties exceeding that of traditional mass manufacturing.

Founded in 2011 by Lei Jun, founder of Chinese smartphone maker Xiaomi Inc., and veteran investment manager Tuck Lye Koh, Shunwei Capital is a venture capital fund that focuses on early to mid-stage investments in the local internet industry. It specialises in incubation, startups, early to mid-stage, and growth capital investments.

It seeks to invest in the technology, media, telecom, high technology, new media, games, internet finance, and rural area internet sectors. Their investors include sovereign wealth funds, fund of funds, university endowment funds, and family offices.

Last year, Chinese venture capital firm Shunwei Capital closed a total of $1.21 billion for new funds.

Kleiner Perkins, a Silicon Valley-based VC, is an early investors in prominent companies including Amazon, AOL, Compaq, Electronic Arts, Google, Intuit, Macromedia, Netscape, Segway, and Sun Microsystems.

Meanwhile, Northern Light Venture Capital is a Chinese company that provides early- and growth-stage funding to tech and consumer service companies.