BIGGER THAN A UNICORN, FURTHER $160M FUNDING FOR DESKTOP METAL BREAKS RECORDS

3D Printing Industry | 1/23/2019 | Tia Vialva
lhumara (Posted by) Level 3
Click For Photo: https://3dprintingindustry.com/wp-content/uploads/2019/01/Process-Shots-Sintering.jpg

Desktop Metal, the MA-based metal 3D printer manufacturer, has closed a new $160 million funding round led by Koch Disruptive Technologies.

The Series E round was led by Koch Disruptive Technologies (KDT), a venture capital and private equity firm with revenues over $110 billion and helmed by Chase Koch of the famed financier dynasty. Also contributing to the round were GV (formerly Google Ventures), Panasonic, and Techtronic Industries, as well as previous venture capital investors in the company, including Lux Capital, New Enterprise Associates (NEA) and Kleiner Perkins.

Deal - Funding - Desktop - Metal - Endeavor

The deal brings total funding at Desktop Metal to $438 million, the “highest funded private 3D printing endeavor in history”.

Chase Koch, president of Koch Disruptive Technologies said, “Desktop Metal’s 3D printing solutions can redefine prototyping and mass production of metal products, which has profound disruptive implications for manufacturers like Koch Industries.”

PROSPECTS - OF - DESKTOP - METAL - NOT

“WE ARE VERY BULLISH ABOUT THE PROSPECTS OF DESKTOP METAL, NOT JUST AS AN INVESTOR, BUT ALSO AS A CUSTOMER AND PARTNER.”

Ric Fulop, co-founder and CEO explained that,“This new funding will fuel the continued development of our metal 3D printing technology and rich product roadmap, the scaling of operations to meet a growing demand of orders, and the financing of major new research and development initiatives. Combined, this will set us on a trajectory to become a global leader in metal 3D printing, a key pillar of Industry 4.0.”

Ric - Fulop - CEO - Desktop - Metal

Ric Fulop CEO of Desktop Metal presents office-friendly metal printing. Photo by Michael Petch.

Volume shipping of the Desktop Studio system is now underway, and available in 48 countries through a network of over 85 partners and resellers. Shipping of the Production system is scheduled for Q1 2019.

Metal - Fuel - Nozzle - John - Zink

A 3D printed metal fuel nozzle for John Zink made using Desktop Metal technology. Photo via Desktop Metal.

New 3D printing systems from Desktop Metal?

Desktop - Metal - Spokesperson

A Desktop Metal spokesperson would not be...
(Excerpt) Read more at: 3D Printing Industry
Wake Up To Breaking News!
Sign In or Register to comment.

Welcome to Long Room!

Where The World Finds Its News!