Elegoo raises $73.3 million to counter Bambu Lab's market pressure

More competition may soon mean sharper prices, faster feature catch-up, and better support in desktop 3D printing, and Elegoo now has $73.3 million to lean into that fight.

The Shenzhen company closed a Series B+ financing round worth more than 500 million yuan on April 20, with Meituan’s DragonBall Capital and Meituan leading the deal. Other backers reported in the round included Shenzhen Capital Group, Hillhouse Investment, Yintai Group, Guoce, Minghuizhiyuan, and Shenzhen HTI Group. For a brand that started in 2015, the raise signals an aggressive push to scale beyond accessory sales and into the same consumer-printer spotlight Bambu Lab now dominates.

Elegoo’s numbers show why the market is paying attention. The company said it brought in 1 billion yuan in 2023, 1.6 billion yuan in 2024, and 2.3 billion yuan in 2025. It is now targeting 3.5 billion to 4 billion yuan in 2026, a pace that suggests a company trying to keep up with a rival that reset expectations around ease of use, speed, and polish. Chen Bo’s stated aim is to narrow the revenue gap with Bambu Lab from roughly five times to somewhere between one and two times.

That ambition matters because the pressure is happening in the fastest-moving part of the market. CONTEXT reported that entry-level printers accounted for 48% of global 3D printer revenues in Q2 2024, while shipments of those machines rose 65% year over year. Industrial printer revenues fell 17% in the same period. In other words, the consumer and prosumer slice is where the fight is being won, and Elegoo is clearly betting that fresh capital will help it move faster there.

The company already has a broad base to build from. Elegoo says Chris Hong founded it in Shenzhen in 2015, and its official materials say it sells millions of products across more than 100 countries and regions, with LCD 3D printers leading global shipments. The new funding also follows a major late-2023 round that included DJI, suggesting this is part of a longer run at ecosystem expansion rather than a one-off cash event.

That ecosystem push is already visible in product moves. Elegoo launched Jupiter 2 and a multicolor system for Centauri Carbon at RAPID + TCT 2026, then later highlighted Centauri Carbon 2 with RFID filament recognition and automatic filament backup. Those are the kinds of features that matter when buyers are comparing machines on convenience, workflow, and how much tinkering is left to the owner.

Bambu Lab, founded in 2020 in Shenzhen by Ye Tao, has forced every other consumer brand to react. Elegoo’s latest raise suggests it intends to answer that pressure the practical way: more hardware, broader software support, tighter consumables integration, and a harder push to close the gap before Bambu gets any farther ahead.