Group 1 - The recent financing round was led by Hillhouse Capital and Meituan, with participation from Shunwei Capital, Meituan Longzhu, and Nanshan Zhanxin Investment, along with existing shareholders such as Tongchuang Weiye and Dongzheng Capital [2] - The funds raised will be used for core technology research and development, high-end talent recruitment, and content ecosystem construction, aiming to accelerate the popularization of consumer-grade 3D printing technology [2] - The company was established in 2016 and set a crowdfunding record in 2019 with Snapmaker 2.0, raising over 54 million RMB in the technology category [2] Group 2 - The flagship product, U1 3D printer, achieved a crowdfunding amount of over 150 million RMB, making it the highest crowdfunding project in the history of 3D printing [2] - The company announced that all U1 crowdfunding orders have been shipped, with plans for a global launch in the first quarter of 2026, and expects revenue to grow several times next year [2]

Core Insights - Snapmaker, a global consumer-grade 3D printing brand, has completed a multi-hundred million RMB Series B financing round, led by Hillhouse Capital and Meituan, with participation from several other investors [1] - The funds will be used for core technology research and development, high-end talent recruitment, and content ecosystem construction to accelerate the popularization of consumer-grade 3D printing technology [1] Group 1: Product Innovation and Market Performance - Since its establishment in 2016, Snapmaker has focused on consumer-grade 3D printing, breaking global crowdfunding records with its products [3] - The Snapmaker 2.0 raised over 54 million RMB in 2019, setting a record in the technology category and achieving the highest market share globally [3] - The flagship U1 3D printer raised over 150 million RMB (approximately 20 million USD) in crowdfunding in 2025, becoming the highest crowdfunding project in 3D printing history, supported by over 20,000 users [3] Group 2: User-Centric Approach and Technological Advancements - Snapmaker's breakthroughs stem from precise insights into user needs and deep integration of technology, addressing pain points such as low efficiency and material waste in multi-color printing [4] - The U1 printer features the innovative SnapSwap™ independent four-head system, allowing for rapid material switching and significantly enhancing printing efficiency and stability, achieving five times the speed and material savings [4] Group 3: Future Growth and Strategic Focus - The recent financing is seen as a critical milestone for Snapmaker, transitioning from product leadership to ecosystem completeness [6] - The company aims to accelerate core technology development, expand global talent recruitment, and build an open ecosystem to lower the barriers for 3D printing, making it a universal creative tool [6] - Snapmaker is actively recruiting for key positions in mechanical electronics, software control, and marketing to drive innovation [6]

Financing Information - Snapmaker has completed a Series B financing round, raising several hundred million RMB, led by Hillhouse Capital and Meituan, with participation from Shunwei Capital, Meituan Longzhu, and Nanshan Zhanxin Investment [1] - The funds will primarily be used for core technology research and development, high-end talent recruitment, and content ecosystem construction [1] - The company has cumulatively received over 100 million RMB in capital injections [1] Company Overview - Snapmaker, founded in 2016 and headquartered in Shenzhen, aims to enable everyone to create freely in the physical world and is a pioneer in consumer-grade multifunctional 3D printers [1] - The product line includes a three-in-one multifunction printer, independent dual-head printer, and efficient multi-color printer [1] - The company has established a nearly 10,000 square meter factory and production line, investing in dozens of large CNC machines and grinders to ensure high-quality products [1] Product Highlights - The flagship product, U1 3D printer, addresses user pain points in multi-color printing, such as low efficiency and material waste, by introducing the SnapSwap™ independent four-head system for rapid material switching [2] - The U1 printer offers five times the speed and material savings, enhancing user experience with smooth and colorful creations [2] - All crowdfunding orders for the U1 have been shipped, with plans for a global launch in Q1 2026, and the company anticipates several-fold revenue growth next year [3] Market Potential - The global consumer-grade 3D printing market is projected to grow from $1.5 billion in 2020 to $4.1 billion by 2024, with a compound annual growth rate (CAGR) of approximately 28% [4] - From 2020 to 2023, the annual shipment of global consumer-grade printers has remained around 3 million units, expected to exceed 4 million units in 2024, with a CAGR of about 10.2% [4] - By 2029, the shipment is anticipated to reach 13.4 million units, with a CAGR of approximately 26.6% from 2024 to 2029 [4] Company Performance - Snapmaker has set multiple industry records through various crowdfunding activities, demonstrating strong market appeal and product innovation capabilities [5] Founder's Background - The founder, Chen Xuedong, has over 20 years of experience as a maker and has a background in engineering and robotics, having previously worked at a leading aerospace engine research institute [8] Industry Insights - Chen Xuedong believes that healthy and high-level competition will benefit the development of the 3D printing industry, similar to top global sports leagues [9] - The company emphasizes the importance of talent in driving innovation and aims to attract more individuals to the 3D printing sector to accelerate industry transformation [9]

Core Viewpoint - The article discusses the competitive landscape of the 3D printing industry in Shenzhen, highlighting the investment by DJI in a local company, Smart Pie, and the implications for the market dynamics among key players like Tuo Zhu Technology and Smart Pie [2][5][9]. Group 1: Investment and Market Dynamics - DJI's investment in Smart Pie is based on the potential growth of consumer-grade 3D printing technology and aligns with its innovative technology strategy [2][5]. - Smart Pie, founded in 2015, has rapidly evolved from a cross-border e-commerce company to a significant player in the 3D printing market, with projected revenues of 1.6 billion yuan in 2024 and over 2 billion yuan in 2025 [5][10]. - The global consumer-grade 3D printing market is expected to reach $21.9 billion in 2024, with a compound annual growth rate exceeding 20% [10][11]. Group 2: Company Backgrounds - Smart Pie initially focused on STEM education kits before pivoting to 3D printing in 2017, launching its first printer after transitioning from being a distributor to developing its own products [3][4]. - Tuo Zhu Technology, founded by former DJI employees, has captured a significant market share, with 29% of the global consumer-grade 3D printing market and a shipment volume of approximately 1.2 million units [6][7]. - Both Smart Pie and Tuo Zhu Technology are part of a group of companies in Shenzhen that dominate the entry-level 3D printing market, collectively holding 90% of the market share [9][10]. Group 3: Industry Trends - Shenzhen is emerging as a "hardware Silicon Valley," with a complete 3D printing industry chain that facilitates rapid product development and assembly [9][10]. - The article emphasizes the importance of Shenzhen as a hub for investment in consumer hardware, particularly in the context of AI-related technologies and other innovative products [10][11].