Desktop Metal, a Lexington, MA-based metal 3D printer, received a strategic investment from GE Ventures and Saudi Aramco Energy Ventures.
The amount of this deal was not disclosed. To date, the company has raised $52M and other investors include Kleiner Perkins Caufield & Byers, New Enterprise Associates, Stratasys and Lux Capital.
The investments will fund product development, hiring, and business operations.
Founded in August of 2015 by Ric Fulop, CEO, Desktop Metal is a stealth mode startup that focuses on lowering cost of metal 3D printing for the commercial sector via a family of 3D printers for design and manufacturing teams to build complex parts.
The company’s team includes Jonah Myerberg, Chris Schuh, Yet Ming Chiang, Matt Verminski, John Hart, Rick Chin, Marc Minor, and Fulop. In addition, Scott Crump, the founder of Stratasys, serves as a board observer for Desktop Metal.