Desktop Metal to reach new heights with KDT $160 Million Investment
Desktop Metal has set a milestone in the additive manufacturing industry: the metal 3D Printing Specialist is now the highest ever funded company of the industry. With KDT $160 Million Investment, Desktop Metal has received a total of $438 Million, all funding rounds combined.
What’s in the pipeline?
So far, the company is doing great at saving its clients’ money without having to redesign their parts. With this additional funding round, the company is preparing something bigger: the adoption of its metal 3D Printers for mass production and the launch of its first office-friendly metal 3D Printing System.
As most industrials know, production scale has been (and still is) the holy grail of the additive manufacturing industry. By integrating AM systems, biggest industrial companies have succeeded in making a drastic change in their production. Today, the 3D printing unicorn company will make it more affordable to professionals of all range.
“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,” said Chase Koch, president of Koch Disruptive Technologies. “We are very bullish about the prospects of Desktop Metal, not just as an investor, but also as a customer and partner.”
As a quick reminder to the 3D printers’ capacities, one should note that its metal production system is considered as one of the fastest systems on the market for mass production with over 400 percent productivity over the closest binder jet alternatives and more than 100 times faster than laser powder bed fusion systems in the market.
As for the Studio System, it has proven itself in the plastic world, due to its capacity to print and sinter parts in an office environment. The 3D printing system is now shipping in volume around the world to acknowledged customers and new comers via the company’s 85 sales partners.
Let’s admit it, the timing is both crucial and perfect. This year is a promising one for the company as the whole market can’t wait to see industrialization becomes real.
“We are at a critical juncture in the advancement of metal 3D printing and additive manufacturing,” said Ric Fulop, CEO and co-founder of Desktop Metal. “We are excited about Koch being an investor, customer and capability provider in this round. 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.”
From Ric Fulop’s words, it makes no doubt that the company will keep astonishing the market. As said earlier, something bigger is ahead. #StayTuned
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