Automaker Ford Motor Company announced on 19 March that they will be investing $65 million in Boston-based metal 3D printing maker, Desktop Metal.
This new round of investment brings the company’s total investment to $277 million, as they continue to ramp up adoption of its metal 3D printing systems, accelerate business growth, and double down on R&D.
Despite a plethora of a wide range of companies and innovative technologies emerging in the 3D printing industry in recent times, none has created quite a buzz that Desktop Metal has generated with their systems marketed as being much more affordable than those in the market right now.
Besides the fact that printed parts are able to be used out of the furnace with no retooling required, the parts are also comparable to cast metal parts in terms of structural integrity.
Desktop Metal is currently shipping the Studio System which is an office-friendly machine, while the Production System which can mass produce parts in a factory will be released in 2019.
The new funding follows major company milestones, including:
- Now employs more than 225 employees
- Nearly 100 channel partners and resellers
- International expansion with di