Bambu Lab is close to completing its latest funding round, 36Kr reported, citing multiple investor and industry sources. Tencent is said to be participating, and the company’s valuation could reach USD 100 billion upon closing.
There were signs earlier. On July 30, Bambu Lab and Tencent Cloud announced a broad partnership in which Bambu’s 3D model platform, MakerWorld, would integrate Tencent’s Hunyuan 3D generative model. That move aligns with information from an unnamed investor who told 36Kr that the two firms would explore software-related collaboration once Tencent invested. When asked directly, however, both companies denied the information.
Notably, Tencent is also a shareholder in Creality, a 3D printer maker preparing for a Hong Kong IPO.
Bambu Lab has become one of the private market’s brightest standouts. According to Soochow Securities, the company was projected to generate up to RMB 6 billion (USD 840 million) in revenue last year, with close to RMB 2 billion (USD 280 million) in net profit. Media reports have also indicated that Bambu Lab has shipped more than 1.2 million units, claiming a 29% global share.
Its last round closed in 2023 with investors including Mingshi Investment Management, Temasek, True Light Capital, and 5Y Capital. Investment amounts were not disclosed.
Bambu Lab’s rise reflects the rarity of its position: it found a fast-growing market and brought products roughly two generations ahead of competitors.
Precedence Research estimates the global 3D printing market will reach USD 24.61 billion in 2024, growing at a compound annual rate of 18.5% through 2034.
The industry is in an expansion cycle. Before Bambu Lab arrived, most desktop printers were open-source, hands-on devices requiring manual leveling and maintenance. Bambu Lab introduced automatic leveling, a fully enclosed structure, and a signature multicolor system, solving two longstanding pain points: speed and complexity. Its printers are several times faster than traditional machines and require far less user intervention.
“Bambu Lab greatly expanded multicolor printing. From the moment it launched its first product to when competitors finally offered their own high-speed, multicolor systems, there was a full two-year gap, and Bambu used that time to scale,” an industry insider told 36Kr.
In this person’s view, the company’s founding team has executed almost flawlessly. “Sometimes we envy Tao Ye. Building a 3D printing company for him seems like taking an open-book exam, he already knows the answers.”
Bambu Lab’s success has triggered an industrywide arms race. As peers follow, consumer printers are becoming more turnkey, with higher print success rates and more polished software. Printers are now turning up in everyday households, for school projects, gifts, and small items, rather than just in maker communities.
Bambu Lab also dominates the enterprise segment. The company said more than 70% of 3D printing farms globally run on its P1 series. Many hardware firms visited by 36Kr use Bambu printers internally for prototyping and small-batch parts.
Rising competition, however, is inevitable. Most major manufacturers have launched high-speed models in the past two years, and many are rushing to replicate Bambu’s multicolor approach.
The most unnerving move comes from DJI, founder Tao’s former employer, which recently invested in Elegoo. DJI confirmed the investment, saying it reflects optimism about consumer-grade 3D printing and aligns with its technology strategy.
Elegoo is already strong in manufacturing, with its own factory and production lines. On November 10, it launched the China-facing version of Nexprint, its open-source model aggregation platform integrating libraries like Thingiverse and Printables. Analysts view Nexprint as a direct challenge to Bambu’s MakerWorld.
KrASIA Connection features translated and adapted content that was originally published by 36Kr. This article was written by Leslie Zhang for 36Kr.