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.…