Startups
Desktop Metal just raised another $160 million
Desktop Metal announced this morning that it has raised $160 million. That Series E brings the Burlington, Mass.-based metal 3D printing company up to a whopping $438 million. The startup’s tagline says the company “is reinventing the way design and manufacturing teams print with metal” — and now it undoubtedly has the money to do so.
Koch Disruptive Technologies (yes, that Koch) led the round, joined by GV, Panasonic and Techtronic Industries. The latest round follows $65 million last March, which found Ford investing in the technology, which has applications for both prototyping and manufacturing. Big names like BMW and Lowe’s have also pumped money into Desktop’s impressive additive manufacturing technology.
The company will be investing the massive funding back into its technology. “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,” co-founder and CEO Ric Fulop said in a press release tied to the news.
Desktop Metal’s technology clearly represents a bright spot in the world of 3D printing/additive manufacturing — at least so far as investors are concerned. Much of that is due to the speed and durability of the printing process, which is helping it move from simple prototyping to real-world product manufacturing.
-
Business6 days ago
Consumer Financial Protection Bureau fines BloomTech for false claims
-
Business5 days ago
Langdock raises $3M with General Catalyst to help businesses avoid vendor lock-in with LLMs
-
Entertainment4 days ago
What Robert Durst did: Everything to know ahead of ‘The Jinx: Part 2’
-
Business7 days ago
Klarna credit card launches in the US as Swedish fintech grows its market presence
-
Entertainment4 days ago
This nova is on the verge of exploding. You could see it any day now.
-
Business4 days ago
India’s election overshadowed by the rise of online misinformation
-
Business3 days ago
This camera trades pictures for AI poetry
-
Business4 days ago
CesiumAstro claims former exec spilled trade secrets to upstart competitor AnySignal