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Can Elegoo’s Latest 500M Yuan Round Counter the “Bambu Effect”?

3D Printing Industry·Ada Shaikhnag·27 days ago
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Chinese 3D printer manufacturer Elegoo (Shenzhen SmartPie Technology Co., aka SmartPie) has completed a B+ round of financing worth over 500 million yuan ($73.3 million). The round was jointly backed by Meituan and its investment arm, Dragon Ball, alongside Guoce Capital, Hillhouse Capital, Minghui Zhiyuan Capital, Shenzhen Capital Group, Shanghai High-Tech Investment Group, and Yintai Capital, and closed less than six months after DJI took a strategic stake in the company . According to a news report , the funds will be deployed for hiring senior talent, advancing R&D, scaling global operations, strengthening the supply chain, and broadening the Elegoo brand’s international reach. The capital comes as Elegoo faces a competitive gap it has so far been unable to close.…

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