Desktop Metal raises more than $65 million in new Ford-led financing

The company has raised a total of $277 million in financing to further accelerate its rapid growth and adoption of its end-to-end metal 3D printing systems.

0 March 19, 2018
Staff

Desktop Metal announced $65 million in new financing led by Ford Motor Company.

The Massachusetts-based manufacturer of 3D printers and accessories has raised a total of $277 million in financing to further accelerate the company’s rapid business growth and adoption of its end-to-end metal 3D printing systems.

In a related announcement, the company also announced Ford’s Chief Technology Officer will join the Desktop Metal Board of Directors.

According to Ric Fulop, CEO and co-founder of Desktop Metal, the strategic partnership with Ford will continue to fuel the company’s growth and R&D, as well as enable Desktop Metal to accelerate its momentum in delivering scalable metal 3D printing technologies across the globe.

The company also announced Dr. Ken Washington, vice president of Research and Advanced Engineering and chief technology officer at the Ford Motor Company, will join Desktop Metal’s board of directors and play an important role in Desktop Metal’s mission to become a global leader in metal 3D printing.

“The age of metal 3D manufacturing is here and this strategic partnership with Ford, along with our portfolio of investors, validates our vision to transform the way metal parts will be designed and mass produced,” said Fulop.

www.desktopmetal.com


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