3-D printing start-up Desktop Metal has secured $45 million in equity funding from Google Ventures, BMW Ventures and Lowe’s Ventures in order to accelerate the adoption of metal 3-D printing.
Desktop Metal says the funding will be used to continue developing its technology and scale production as it prepares for its product launch later this year. The company wants to move metal 3-D printing from its early stages of development to actual commercial production of complex parts for the automotive, electronics and consumer industries.
“Just as plastic 3-D printing paved the way for rapid prototyping, metal 3-D printing will make a profound impact on the way companies both prototype and mass produce parts across all major industries,” says Ric Fulop, CEO and co-founder of Desktop Metal.
BMW Ventures says the metal 3-D printing will allow for rapid prototyping and printing of automotive-quality parts for end-use production, freedom of design and mass customization.