Desktop Metal has announced the closing of a USD 160M funding round, led by Koch Disruptive Technologies (KDT), to advance the global commercialization of its metal 3D printing technology.
KDT is an investment firm focused on finding and funding innovative and emerging technologies. KDT is a subsidiary of Koch Industries and an investor of more than USD 17B into technology companies.
The Desktop Metal Production System is the world’s fastest metal printing press for mass production with over 400% productivity over the closest binder jet alternatives and more than 100 times faster than laser powder bed fusion systems in the market. These systems are designed to print a broad range of alloys, including reactive metals such as titanium and aluminum. This process enables the use of metal powders that are 80% lower cost than laser powder bed fusion metals, delivering parts at 1/20th the cost. The technology is being adopted by major Fortune 500 companies and initial systems will begin shipping commercially in Q1 2019.
Additional investors in the Series E funding round include GV (formerly Google Ventures), Panasonic, Techtronic Industries, Lux Capital, New Enterprise Associates (NEA) and Kleiner Perkins.