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.
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.
Snapmaker is something of a dark horse in the 3D printing world. Despite success with the Snapmaker 2.0 Kickstarter, its machines have been bulky, expensive, niche products designed for makers who want a 3D printer that can also laser-cut and CNC mill. The U1 tool changer flipped the script, offering a faster solution to multicolor printing that doesn’t waste filament and is cheaper than industry leader Bambu Lab’s flagship Core XY machines.
Priced around $750 during the Kickstarter, U1 flew off the shelves and proved that consumers crave a speedy machine that respects their time, budget, and recycling can. It also spurred renewed interest in tool changers. Before the U1, the only consumer tool changer was Prusa Research’s prosumer XL , priced at $ 3,099 for a semi-assembled unit.
Shortly after the U1’s launch, Bambu Lab announced the seven-nozzle, filament-saving P2S , followed by Prusa Research revealing a partnership with Bondtech to turn its new CORE One into a more affordable eight-color tool changer.
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Snapmaker’s founder, Daniel Chen, said its new fundraising efforts will allow the company to pivot from a product leader to a global provider of a fully developed ecosystem. He said Snapmaker will “lower the barriers to creation and make 3D printing a universal tool accessible to everyone.” He plans to do this by recruiting top talent to research hardware R&D, AI software, and a content ecosystem.
This sounds like Snapmaker is not only planning to develop more tool changers, but is also going after Bambu Lab’s MakerWorld, a website that provides everything from filament and model files to spare parts for its users. Since Snapmaker is currently using Open Source OrcaSlicer for its software, we hope that Mr. Chen takes a page from the West and keeps the garden gate open to all makers.
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