Desktop Metal, a Burlington, MA-based metal 3D printing technology company, closed a $160m Series E funding round.
The round was led by Koch Disruptive Technologies (KDT), with participation from GV (formerly Google Ventures), Panasonic, and Techtronic Industries, as well as previous venture capital investors Lux Capital, New Enterprise Associates (NEA) and Kleiner Perkins.
The company, which has raised $438m in combined funding since its 2015 inception, intends to use the funds to advance global commercialization of its metal 3D printing technology.
Founded in 2015 by Ric Fulop, CEO, Desktop Metal provides a metal 3D printing solutions for engineers and manufacturers around the world.
The company’s Studio System is an only metal 3D printing system able to print and sinter parts in an office environment. It is now shipping in volume and available through a global sales network of more than 85 sales partners in 48 countries.
Early customers include: Ford, Stanley Black and Decker, Goodyear, 3M, Google’s ATAP, BMW, ProtoLabs, Owens Corning, L3, TerraPower, Medtronic, Continental AG, Applied Materials, TECT Aerospace, US Department of Defense, Department of Homeland Security, MITRE and leading educational institutions such as MIT, University of Texas, Texas A&M and Diman Regional Vocational Technical High School.
KDT is an investment firm focused on finding and funding innovative and emerging technologies. It is a subsidiary of Koch Industries, one of the largest privately-held companies in America with over $110 billion in annual revenues, according to Forbes, and an investor of more than $17 billion into technology companies in the last six years.