{"id":68247,"date":"2019-07-29T12:54:37","date_gmt":"2019-07-29T04:54:37","guid":{"rendered":"http:\/\/facfox.com\/news\/aerospace\/bigger-than-a-unicorn-further-160m-funding-for-desktop-metal-breaks-records.3dm"},"modified":"2019-07-29T12:54:37","modified_gmt":"2019-07-29T04:54:37","slug":"bigger-than-a-unicorn-further-160m-funding-for-desktop-metal-breaks-records","status":"publish","type":"post","link":"https:\/\/facfox.com\/news\/bigger-than-a-unicorn-further-160m-funding-for-desktop-metal-breaks-records\/","title":{"rendered":"Bigger than a unicorn, further $160m funding for Desktop Metal breaks records"},"content":{"rendered":"<div id=\"dpsp-content-top\" class=\"dpsp-content-wrapper dpsp-shape-rectangular dpsp-size-medium dpsp-has-spacing dpsp-has-buttons-count dpsp-show-on-mobile dpsp-button-style-1\">\n<div class=\"dpsp-total-share-wrapper\"><span class=\"dpsp-total-share-count\">51<\/span><span>shares<\/span><\/div>\n<ul class=\"dpsp-networks-btns-wrapper dpsp-networks-btns-content dpsp-networks-btns-share dpsp-column-auto\">\n<li><span class=\"dpsp-network-icon\"><\/span><span class=\"dpsp-network-label-wrapper\"><span class=\"dpsp-network-count\">51<\/span><\/span><\/li>\n<li><span class=\"dpsp-network-icon\"><\/span><span class=\"dpsp-network-label-wrapper\"><span class=\"dpsp-network-count\">0<\/span><\/span><\/li>\n<li><span class=\"dpsp-network-icon\"><\/span><span class=\"dpsp-network-label-wrapper\"><span class=\"dpsp-network-count\">0<\/span><\/span><\/li>\n<li><span class=\"dpsp-network-icon\"><\/span><span class=\"dpsp-network-label-wrapper\"><\/span><\/li>\n<\/ul>\n<\/div>\n<p><span style=\"font-weight: 400;\">Desktop Metal, the MA-based metal 3D printer manufacturer, has closed a new $160 million funding round led by Koch Disruptive Technologies.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The Series E round was led by <\/span><span style=\"font-weight: 400;\">Koch Disruptive Technologies<\/span><span style=\"font-weight: 400;\"> (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.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The deal brings total funding at <\/span><span style=\"font-weight: 400;\">Desktop Metal<\/span><span style=\"font-weight: 400;\"> to $438 million, the \u201chighest funded private 3D printing endeavor in history\u201d. This takes the estimated valuation of Desktop Metal to $1.5 billion.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Chase Koch, president of Koch Disruptive Technologies said, \u201cDesktop Metal\u2019s 3D printing solutions can redefine prototyping and mass production of metal products, which has profound disruptive implications for manufacturers like Koch Industries.\u201d <\/span><\/p>\n<blockquote>\n<p><span style=\"font-weight: 400;\">\u201cWe are very bullish about the prospects of Desktop Metal, not just as an investor, but also as a customer and partner.\u201d<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><\/p>\n<\/blockquote>\n<p><span style=\"font-weight: 400;\">Ric Fulop, co-founder and CEO explained that,\u201cThis 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.\u201d<\/span><\/p>\n<figure id=\"attachment_112768\" style=\"width: 1024px\" class=\"wp-caption aligncenter\"><img fetchpriority=\"high\" decoding=\"async\" class=\"size-large wp-image-112768\" src=\"https:\/\/3dprintingindustry.com\/wp-content\/uploads\/2017\/05\/Ric-Fulop-CEO-of-Desktop-Metal-presents-office-friendly-metal-printing.-1024x639.jpg\" alt=\"Ric Fulop CEO of Desktop Metal presents office-friendly metal printing. Photo by Michael Petch.\" width=\"1024\" height=\"639\" srcset=\"https:\/\/3dprintingindustry.com\/wp-content\/uploads\/2017\/05\/Ric-Fulop-CEO-of-Desktop-Metal-presents-office-friendly-metal-printing.-1024x639.jpg 1024w, https:\/\/3dprintingindustry.com\/wp-content\/uploads\/2017\/05\/Ric-Fulop-CEO-of-Desktop-Metal-presents-office-friendly-metal-printing.-770x480.jpg 770w, https:\/\/3dprintingindustry.com\/wp-content\/uploads\/2017\/05\/Ric-Fulop-CEO-of-Desktop-Metal-presents-office-friendly-metal-printing.-200x125.jpg 200w, https:\/\/3dprintingindustry.com\/wp-content\/uploads\/2017\/05\/Ric-Fulop-CEO-of-Desktop-Metal-presents-office-friendly-metal-printing.-500x312.jpg 500w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-caption-text\">Ric Fulop CEO of Desktop Metal presents office-friendly metal printing. Photo by Michael Petch.<\/figcaption><\/figure>\n<p><span style=\"font-weight: 400;\">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.<\/span><\/p>\n<figure id=\"attachment_147679\" style=\"width: 1024px\" class=\"wp-caption aligncenter\"><img decoding=\"async\" class=\"size-large wp-image-147679\" src=\"https:\/\/3dprintingindustry.com\/wp-content\/uploads\/2019\/01\/Fuel_Nozzle_Black-2-John-Zink.-1024x682.jpeg\" alt=\"A 3D printed metal fuel nozzle for John Zink made using Desktop Metal technology. Photo via Desktop Metal.\" width=\"1024\" height=\"682\" srcset=\"https:\/\/3dprintingindustry.com\/wp-content\/uploads\/2019\/01\/Fuel_Nozzle_Black-2-John-Zink.-1024x682.jpeg 1024w, https:\/\/3dprintingindustry.com\/wp-content\/uploads\/2019\/01\/Fuel_Nozzle_Black-2-John-Zink.-150x100.jpeg 150w, https:\/\/3dprintingindustry.com\/wp-content\/uploads\/2019\/01\/Fuel_Nozzle_Black-2-John-Zink.-770x513.jpeg 770w, https:\/\/3dprintingindustry.com\/wp-content\/uploads\/2019\/01\/Fuel_Nozzle_Black-2-John-Zink.-200x133.jpeg 200w, https:\/\/3dprintingindustry.com\/wp-content\/uploads\/2019\/01\/Fuel_Nozzle_Black-2-John-Zink.-500x333.jpeg 500w, https:\/\/3dprintingindustry.com\/wp-content\/uploads\/2019\/01\/Fuel_Nozzle_Black-2-John-Zink..jpeg 1280w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-caption-text\">A 3D printed metal fuel nozzle for John Zink made using Desktop Metal technology. Photo via Desktop Metal.<\/figcaption><\/figure>\n<p><b>New 3D printing systems from Desktop Metal?<\/b><\/p>\n<p><span style=\"font-weight: 400;\">A Desktop Metal spokesperson would not be drawn on whether this \u201crich product roadmap\u201d includes expanding the current range of 3D printing technologies beyond the Studio and Production systems. However, when coupled with statements about \u201cmajor\u201d R&amp;D activity and close connections with MIT, it seems reasonable to expect exciting developments are in the pipeline.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">One such project may see the commercialization of research into <\/span><span style=\"font-weight: 400;\">3D printing of amorphous metals such as bulk metallic glasses (BMGs)<\/span><span style=\"font-weight: 400;\">.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Desktop Metal attained unicorn status in 2017<\/span><span style=\"font-weight: 400;\">. The company has not disclosed how the latest funding round changes the total valuation of the enterprise. <\/span><\/p>\n<p><b>Metal 3D printing to disrupt traditional manufacturing<\/b><\/p>\n<p><span style=\"font-weight: 400;\">Desktop Metal says today\u2019s news \u201cmarks an inflection point where metal 3D printing begins to disrupt traditional manufacturing.\u201d Certainly, the growing use of metal AM is supported by views from those including the DMG Mori president who expects the 2020\u2019s to be the decade of additive manufacturing.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The total funding to date of $438 million is a substantial sum, almost than the combined cash on hand at Stratasys (Q3 &#8211; 2018 $348m) and 3D Systems (Q3 &#8211; 2018 $92m). Estimates place Desktop Metal\u2019s new valuation (around $1.5 billion) in the region of the <\/span><span style=\"font-weight: 400;\">$1.4 billion paid by GE for Arcam and Concept Laser in 2017<\/span><span style=\"font-weight: 400;\">.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Fulop has chalked up a strong track record in his 15+ years as an entrepreneur. As a General Partner at North Bridge he led a number of Series A rounds, including those of 3D printing related ventures Onshape and MarkForged. He also was an early mover in the energy storage sector &#8211; specifically lithium ion batteries.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">In addition to strong connections with finance world, Fulop also has the ear of industrial leaders. This week the Desktop Metal CEO was on several panels at the <\/span><span style=\"font-weight: 400;\">World Economic Forum<\/span><span style=\"font-weight: 400;\"> in Davos, Switzerland.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The latest round continues the trend of including strategic industrial partners and customers. <\/span><span style=\"font-weight: 400;\">Ford participated in an earlier $65 Million round<\/span><span style=\"font-weight: 400;\">, adding weight to Desktop Metal\u2019s earlier identification of the opportunity for additive in the automotive sector. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">The latest round also brings with it another end-user of Desktop Metal technology. In this case <\/span><span style=\"font-weight: 400;\">John Zink<\/span><span style=\"font-weight: 400;\">, a company serving the chemical processing, oil and gas, manufacturing, power generation, energy transmission, and waste management markets and also part of the Koch Industries family of companies.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">In addition to substantial sums of money, Desktop Metal has also received a number of prestigious accolades &#8211; not least the <\/span><span style=\"font-weight: 400;\">2017 <a href=\"\/service\/3d-printing\"> Industry Start-up of the Year<\/span><span style=\"font-weight: 400;\">. Let us know <\/span><span style=\"font-weight: 400;\">who should win this year\u2019s award here<\/span><span style=\"font-weight: 400;\">.<\/span><\/p>\n<figure id=\"attachment_113862\" style=\"width: 1024px\" class=\"wp-caption aligncenter\"><img decoding=\"async\" class=\"size-large wp-image-113862\" src=\"https:\/\/3dprintingindustry.com\/wp-content\/uploads\/2017\/05\/IMG_1148-1024x682.jpg\" alt=\"Desktop Metal CTO &amp; Co-founder Jonah Myerberg accepts the award for <a href=\"> Industry Start-up of the Year.&#8221; width=&#8221;1024&#8243; height=&#8221;682&#8243; srcset=&#8221;https:\/\/3dprintingindustry.com\/wp-content\/uploads\/2017\/05\/IMG_1148-1024&#215;682.jpg 1024w, https:\/\/3dprintingindustry.com\/wp-content\/uploads\/2017\/05\/IMG_1148-150&#215;100.jpg 150w, https:\/\/3dprintingindustry.com\/wp-content\/uploads\/2017\/05\/IMG_1148-770&#215;513.jpg 770w, https:\/\/3dprintingindustry.com\/wp-content\/uploads\/2017\/05\/IMG_1148-200&#215;133.jpg 200w, https:\/\/3dprintingindustry.com\/wp-content\/uploads\/2017\/05\/IMG_1148-500&#215;333.jpg 500w, https:\/\/3dprintingindustry.com\/wp-content\/uploads\/2017\/05\/IMG_1148.jpg 1500w&#8221; sizes=&#8221;(max-width: 1024px) 100vw, 1024px&#8221; \/><figcaption class=\"wp-caption-text\">Desktop Metal CTO &amp; Co-founder Jonah Myerberg accepts the 2017 award for  Industry Start-up of the Year.<\/figcaption><\/figure>\n<p><i><span style=\"font-weight: 400;\">For all the latest news subscribe to our free <\/span><\/i><i><span style=\"font-weight: 400;\"><a href=\"\/service\/3d-printing\"> Industry newsletter<\/span><\/i><i><span style=\"font-weight: 400;\">, like us on <\/span><\/i><i><span style=\"font-weight: 400;\">Facebook<\/span><\/i><i><span style=\"font-weight: 400;\"> and follow us on <\/span><\/i><i><span style=\"font-weight: 400;\">Twitter<\/span><\/i><i><span style=\"font-weight: 400;\">. <\/span><\/i><\/p>\n<p><i><span style=\"font-weight: 400;\">Looking for a career move in additive manufacturing? Visit <\/span><\/i><i><span style=\"font-weight: 400;\"><a href=\"\/service\/3d-printing\"> Jobs<\/span><\/i><i><span style=\"font-weight: 400;\"> for your next opportunity or to post jobs.<\/span><\/i><\/p>\n<p><em>Featured image shows Desktop Metal 3D printed parts undergoing sintering process. Photo via Desktop Metal.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>51shares 51 0 0 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 [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":182432,"comment_status":"open","ping_status":"close","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"fifu_image_url":"https:\/\/3dprintingindustry.com\/wp-content\/uploads\/2017\/05\/Ric-Fulop-CEO-of-Desktop-Metal-presents-office-friendly-metal-printing.-1024x639.jpg","fifu_image_alt":"","footnotes":""},"categories":[53],"tags":[169,170],"class_list":["post-68247","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-aerospace","tag-3dprint","tag-3dprinting"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.2 (Yoast SEO v27.2) - 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