Desktop Metal is emerging startup with the mission to bring metal 3D printing to all design and manufacturing teams. The company announced it has raised a total of $97 million in equity funding since its founding in October 2015. The announcement comes as the result of the latest Series C investment of $45 million. The investment is led by GV (formerly Google Ventures), as well as BMW i Ventures and Lowe’s Ventures. Desktop Metal will use the funding to continue to develop its technology. As well to scale production as the company prepares for its product launch later this year.
The company aims to bring metal-making capabilities to smaller businesses and designers who couldn’t afford, or find the space, for previously available technologies. Desktop Metal 3D printers allow businesses to construct and test components for new medical devices, robots and vehicles — from F1 racing cars to spaceships. But industrial-grade metal 3D printers are some of the most expensive manufacturing machines out there. Sold for hundreds of thousands of dollars by companies like 3D Systems, EOS and Arcam.
The startup plans to make revenue by selling printers, and its own high-performance alloys, to engineers. The printers will be able to make metal prototypes and parts that are ready to be used in production right away. New carburetor parts printed by an engineer could be immediately used on the road.
BMW iVentures Managing Partner Uwe Higgen said Desktop Metal is working closely with BMW in Munich. “Advances in metal 3D printing are driving innovation across a wide range of automotive applications. From rapid prototyping and printing exceptional quality parts for end-use production, to freedom of design and mass customization, Desktop Metal is shaping the way cars will be imagined, designed and manufactured.”
Source: TechCrunch (6 Feb 2017)
