Desktop Metal, a Burlington, MA-based metal 3D printing startup, raised $45m in Series C funding.
Backers included GV (formerly Google Ventures), BMW i Ventures and Lowe’s Ventures.
The company, which has raised a total of $97m in equity funding since its founding in October 2015, will use the funds to continue to develop its technology and scale production as it prepares for its product launch later this year.
Led by Ric Fulop, CEO and co-founder, Desktop Metal is committed to accelerating the adoption of metal 3D printing in design and manufacturing through the creation of innovative technology that produces complex parts.
Previous investors include NEA, Kleiner Perkins Caufield & Byers, Lux Capital, GE Ventures, Saudi Aramco, and 3D printing company Stratasys.
Beyond Fulop, the company’s leadership team includes:
– Ely Sachs, an early pioneer of 3D printing and the inventor of binder jetting;
– Chris Schuh, Chairman of MIT’s Materials Science and Engineering Department;
– professor Yet Ming Chiang, an expert in materials science,
– professor John Hart, who leads the mechanosynthesis lab,
– Jonah Myerberg, a leader in materials engineering;
– Rick Chin, one of the early team members of SolidWorks and previously founder of Xpress 3D (acquired by Stratasys); and
– Marc Minor, head of marketing of Carbon3D.
Scott Crump, the founder of Stratasys, also serves on the board as board observer for Desktop Metal.