Desktop Metal, a Burlington, Mass.-based developer of metal 3D printing systems, raised $65m in new financing.
The round – which brings total funding to $277m – was led by Ford Motor Company, with participation from existing investor Future Fund. In conjunction with the funding, Dr. Ken Washington, vice president of Research and Advanced Engineering and chief technology officer at the Ford Motor Company, will join Desktop Metal’s board of directors.
The company intends to use the funds to further accelerate its business growth and adoption of its metal 3D printing systems.
Led by Ric Fulop, CEO and co-founder, Desktop Metal provides metal 3D printing solutions for engineers and manufacturers to cover the full product lifecycle – from prototyping to mass production. To manufacture metal 3D printed parts at scale, the company also launched a 3D printing system for mass production of high resolution metal parts, the Production System™, which uses proprietary Single Pass Jetting (SPJ) technology.
Desktop Metal has more than 225 employees, nearly 100 channel partners and resellers
The Ford Motor Company joins a portfolio of strategic partners and investors, including New Enterprise Associates (NEA), Future Fund, GV (formerly Google Ventures), GE Ventures, BMW iVentures, Techtronic Industries (TTI), Lowe’s, Lux Capital, Vertex Ventures, Moonrise Venture Partners, DCVC Opportunity, Tyche, Kleiner Perkins Caufield & Byers, Shenzhen Capital Group (SCGC), Saudi Aramco, and 3D printing leader Stratasys.
FinSMEs
19/03/2018