Ford Leads $65M Round for 3D Printing Startup Desktop Metal
Desktop Metal, the well-funded metal 3D-printing startup, is adding more money to its coffers from another high-profile investor.
Ford has led a new $65 million investment round in Burlington, MA-based Desktop Metal, the company announced Monday. Earlier backer Future Fund also contributed to the round. Ford chief technology officer Ken Washington is joining Desktop Metal’s board.
The new funding brings Desktop Metal’s total venture capital haul to $277 million. Its other investors include BMW iVentures, GE Ventures, Lowe’s, GV, New Enterprise Associates, Kleiner Perkins Caufield & Byers, and 3D printing giant Stratasys.
Founded in 2015, Desktop Metal has quickly become one of the top venture-backed bets in the New England tech scene. The company is led by CEO and co-founder Ric Fulop, who was previously with North Bridge Venture Partners and co-founded battery maker A123 Systems back in 2001.
Desktop Metal has developed two types of metal 3D printers—an office-friendly machine that can fit on a desk (pictured above), and a larger printer intended for mass-producing parts in a factory. In a press release, the 225-person company said it’s currently distributing products in more than 40 countries.