高瓴、大疆抢投的赛道，已经悄悄完成70多笔投资

Core Insights - The domestic primary market has seen a significant increase in investments in the 3D printing sector, with 75 investment deals and 59 companies receiving funding this year, compared to 55 deals and 51 companies last year [1][2]. Investment Overview - Among the 75 financing deals, early-stage financing (A+ round and earlier) accounted for 41 deals, representing 54.7% of total financing [2]. - The 59 companies that received funding are primarily located in Guangdong (15 companies, 25.4%) and Jiangsu (14 companies, 23.7%), with Zhejiang, Beijing, and Anhui each having 5 companies [3]. Company Categories - The funded companies can be categorized into two main types: those targeting consumer markets and those providing new materials or comprehensive technical solutions for industrial applications [5]. Consumer-Level Companies - Notable consumer-level companies include: - Aileku, backed by DJI, which has achieved over 1.6 billion yuan in revenue and is a leader in the consumer-grade light-curing 3D printing market [6]. - KuaiZao Technology, which raised over 54 million yuan in crowdfunding and plans to launch its flagship U1 3D printer globally in Q1 2026, anticipating significant revenue growth [6]. - Yuanzi Chongsu, incubated by Zhuimi, has completed two rounds of financing and focuses on consumer-grade 3D printers, leveraging its parent company's technology and market channels [7]. Industrial-Level Companies - Industrial-level companies are attracting more capital, particularly those serving aerospace and automotive sectors: - XieTong GaoKe has completed three rounds of financing this year, focusing on a multi-material 3D printing technology platform for major industrial applications [9]. - SiRui ZengCai, founded in 2023, specializes in metal additive manufacturing and has achieved significant breakthroughs in recycling titanium alloy waste [10]. Investment Trends - Market-oriented venture capital (VC) and local state-owned capital are playing crucial roles in early-stage investments, with notable VC firms like Meituan Longzhu and Hillhouse Capital participating this year [11][12]. - Local state-owned investment institutions have also made significant contributions, with various funds investing in companies across the 3D printing sector [13][14]. Future Outlook - The investment trend in 3D printing from 2020 to 2025 reflects a continuation of the maker movement and a shift towards high-end manufacturing in China [15]. - As consumer-level companies achieve global success and industrial-level companies make key breakthroughs, the domestic 3D printing industry is transitioning from an "application exploration phase" to an "industry acceleration phase" [16]. - With ongoing investments from market-oriented VCs and local state-owned entities, the 3D printing sector is poised to become one of the most explosive new pillars of manufacturing in the next five years [17].