Desktop Metal Studio System
Desktop Metal Studio System
Desktop Metal, a Boston-based 3D printing company, has received $65m in funding from Ford Motor Company and existing investor, Future Fund.
Ford’s Chief Technology Officer and Vice President of Research and Advanced Engineering, Dr. Ken Washington will also join the Desktop Metal Board of Directors.
After a series of investment round, which has included contributions from the likes of GE Ventures in July 2017, BMW i Ventures in February 2017, and GV multiple times, the total raised figure now stands at $277 million. The latest influx of financial support rounds off a successful year after its first product launches in April 2017.
In that time, Desktop Metal has grown its workforce to more than 225 employees; secured nearly 100 channel partners and resellers; is distributing its products to more than 40 countries; has around 100 pending patent applications and two patents granted for its Separable Supports; and at SOLIDWORKS World 2018 introduced the Live Parts generative design tool. The company welcomes the support of Ford, who join GE Ventures, GV, BMW i Ventures, and Stratasys et al, as a Desktop Metal strategic partner and investor. It sets Desktop Metal up to maintain its performance as a supplier of quality additive manufacturing technology.
“The age of metal 3D manufacturing is here and this strategic partnership with Ford, along with our portfolio of investors, validates our vision to transform the way metal parts will be designed and mass produced,” commented Ric Fulop, Desktop Metal CEO. “The continued support of our investors underscores the power of our metal 3D printing solutions to help engineers and manufactures, for the first time, apply metal 3D printing for the entire product development lifecycle – from prototyping to mass producing complex, high performance metal parts in a cost-effective way.”
Desktop Metal’s introduction of the Studio and Production Systems last spring was one of the biggest developments in the additive manufacturing market last year. The Studio System was launched as the first office-friendly metal 3D printing system for rapid prototyping, while the Production System was brought to market as a tool to manufacture at scale. Orders began to be taken in November, and as we entered 2018 the company first announced the patents for its support removal technology, and then unveiled Live Parts. The company was also awarded the inaugural TCT Rising Star Award in September.
