China’s rapidly growing consumer 3D printing sector has entered a VC funding arms race, with rumors of major tech investors taking notice. In August, we reported that Creality submitted an IPO prospectus for the Hong Kong Stock Exchange, and last month, news broke that drone maker DJI has invested in Elegoo. Rumors are swirling that multimedia tech giant Tencent is eyeballing a stake in Bambu Lab.
Today, Snapmaker confirmed it has secured “tens of millions in US dollars” in Series B funding. The round was co-led by Hillhouse Ventures and Meituan, with additional participation from Shunwei Capital, Longzhu Capital (Meituan), Nanshan Innovation Investment, and continuing support from existing shareholders Cowin Capital and Orient Securities Capital.
Shunwei Capital is notable for being the investment firm co-founded by Lei Jun, the billionaire co-founder, Chairman, and CEO of Xiaomi Corporation, and one of China’s most respected entrepreneurs. Xiaomi is the world’s third-largest smartphone manufacturer, behind Samsung and Apple. Often called the “Steve Jobs of China,” Lei Jun is well regarded as an angel investor.
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Snapmaker announced in a press release that its new funding will be directed toward core technology R&D, global talent acquisition, and ecosystem expansion. The company has been producing 3D printers since 2016 and has twice broken Kickstarter records: first with the Snapmaker 2.0 in 2019 and again with the U1 tool changer this year. The Snapmaker 2.0 raised over $7.85 million, while the U1 brought in over $20 million, becoming the highest-funded 3D printing project in crowdfunding history. Over 20,000 people backed the tool changer, which will be coming to retail shelves in Q1 2026.