Elegoo Secures $73.3M B+ Financing Round Backed by Meituan, Dragon Ball and Top Investors

Why It Matters

The infusion of capital and DJI expertise gives Elegoo a realistic chance to close the technology gap that has let Bambu Lab dominate the entry‑level 3D‑printer market, reshaping competitive dynamics in the fast‑growing hardware‑software ecosystem.

Key Takeaways

• Elegoo raised 500 million yuan ($73 million) B+ round led by Meituan
• Revenue hit 2.3 billion yuan ($328 million) in 2025, still trailing Bambu Lab
• Firmware and slicing delays widened the “Bambu effect” gap
• DJI partnership and Meituan backing target R&D, supply chain, global expansion
• 2026 goal: 3.5‑4 billion yuan revenue, aim to cut gap to 1‑2×

Pulse Analysis

The 500 million‑yuan financing marks a pivotal moment for Elegoo, a company that has surged from a $141 million revenue base in 2023 to $328 million in 2025. While the growth is impressive, it still pales against Bambu Lab, whose software‑driven stability has redefined the entry‑level 3D‑printer benchmark. Meituan’s involvement brings not only capital but also access to a massive consumer ecosystem, positioning Elegoo to scale distribution and accelerate product rollouts beyond its traditional Shenzhen‑centric model.

A deeper issue lies in Elegoo’s firmware and slicing algorithms, which lag behind Bambu Lab’s month‑long stability claims. The delayed launch of a new monochrome printer and the absence of a domestic version underscored a software bottleneck rather than a hardware flaw. By aligning with DJI—a firm whose engineering teams have seeded multiple successful hardware startups—Elegoo hopes to import a system‑level approach that fuses hardware design with AI‑enhanced firmware, potentially shortening the recalibration cycle from two weeks to days.

If Elegoo can translate the new funding and DJI know‑how into reliable, high‑performance printers, it could force a recalibration of market share across Chinese manufacturers. A successful turnaround would not only shrink the five‑to‑one revenue gap with Bambu Lab but also signal to investors that software‑centric upgrades are essential for survival in the consumer‑hardware arena. Conversely, failure to deliver could accelerate consolidation, with rivals like Creality and other Shenzhen exporters either seeking strategic exits or further capital infusions to stay afloat.

Deal Summary

Chinese 3D printer maker Elegoo completed a B+ financing round of over 500 million yuan ($73.3 million). The round was led by Meituan and its investment arm Dragon Ball, with participation from Guoce Capital, Hillhouse Capital, Minghui Zhiyuan Capital, Shenzhen Capital Group, Shanghai High‑Tech Investment Group and Yintai Capital. Proceeds will fund senior hires, R&D acceleration, global expansion and supply‑chain strengthening.