by • April 25, 2016 • No Comments
Desktop Metal has raised a huge $33.8 million in a 2nd round of funding that speaks volumes for the company’s aggressive intent.
The Lexington-based company may already raised $14 million in the firstly round of funding last October. 3D printing giant Stratasys was one of the firstly seed funders in a company that did not in fact have a working prototype at the time, so unquestionably this is a company worth watching.
A easy yet complicated undertaking
Its undertaking is easy, yet oh so complicated to complete. It wants to turn it into a PC metal inkjet 3d printing device that is low-cost, accessible and creates metal products swifter than anything on the market.
The company is yet being cagey with the details, but it has announced that it does not use lasers and is working on a wholly various concept to the majority of 3D printing devices out there.
There are no less than six co-founders of this ambitious start-up and four of them are professors at the iconic Massachusetts Institute of Technology (MIT).
Other individuals involved in the project include engineers of the robotics company Kiva Systems, that sold out to Amazon in 2012 for just the wrong side of $800 million, SolidWorks engineers and additional.
F1-sized brains are involved here too
Ric Fulop is steering the ship on a day-to-day basis along with Jonah Myerberg. Both were involved with lithium ion battery start-up A123 Systems that helped with the KERS energy recoquite process employed by the Mercedes-Benz Formula One team.
It is fair to say and so, that there are a few heavyweight technical minds behind this project and the level of investment leads us to believe means there just must be a breakthrough in the manufacturing here.
We just wish we knew what it is. The company is not giving much away and in fact the funding came to light through an SEC filing. Despite running an active Tumblr blog, Fulop has given us additional insight into his thoughts on Google Glass than what is in fact coming of Desktop Metal.
“We’re attempting to manufacture a machine that you can buy, plug it in, and use it in your office. Metal 3D printing has been out of the reach of many companies for the reason it’s quite expensive and slow. We’re developing a process that is quite swift and additional accessible,” he said after the firstly round of funding. That’s all we have to go on.
Big name investors hint at a fewthing big
Stratasys was just one of the big names to weigh in with funding. Other investors include tech VC companies like NEA, Caufield Byers, Lux Capital and Boston prototype shop Bolt. They were all there in the firstly round and this 2nd round of funding dwarfs that first investment.
All we understand for certain is that a PC metal printing device that is accurate, swift and reliable may be a dream come true for all kinds of businesses. Equiteone of a doctor looking for a medical implant to a car mechanic that needs parts, or in fact a just hobbyist may manufacture use of this kind of innovation.
That is if the tolerances are right, the production costs stack up and it is swift. We’re guessing by the fuss that surrounds this start-up that the new Desktop Metal device should meet the criteria.
We can just wait and wonder on what is going on behind closed doors. But with the level of investment, in facttually Desktop Metal can have to show us a fewthing quite great indeed.
by admin • March 5, 2017
by admin • November 28, 2016
by admin • November 28, 2016