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BMW i Ventures makes strategic investment in 3D printing company Desktop Metal in Series C round

BMW i Ventures has made a strategic investment in Desktop Metal, an emerging startup with the mission to bring metal 3D printing within reach of all design and manufacturing teams. The investment comes as part of Desktop Metal’s $45-million C round of financing, led by GV (formerly Google Ventures), as well as BMW i Ventures and Lowe’s Ventures. Desktop Metal will use the funding to continue to develop its technology and scale production as the company prepares for its product launch later this year.

Desktop Metal is committed to accelerating the adoption of metal 3D printing in design and manufacturing through the creation of innovative technology that produces complex parts. Previous investors include NEA, Kleiner Perkins Caufield & Byers, Lux Capital, GE Ventures, Saudi Aramco, and 3D printing leader Stratasys.

Just as plastic has redefined rapid prototyping, metal 3D printing will make a profound impact on the way companies manufacture rapid prototypes and mass produce parts across all major industries. We are fortunate to have the backing of a leading group of strategic investors who support both our vision and our technology, and who are pivotal in propelling our company forward as we prepare for our product introduction in 2017.

—Ric Fulop, CEO and co-founder of Desktop Metal

Fulop, who was the co-founder of A123 Systems and a general partner at North Bridge, an early investor in leading CAD and 3D printing companies, including MarkForged, OnShape, ProtoLabs and SolidWorks. Desktop Metal leadership team also comprises several MIT professors including: Ely Sachs, an early pioneer of 3D printing and the inventor of binder jetting; Chris Schuh, Chairman of MIT’s Materials Science and Engineering Department; as well as professors Yet Ming Chiang, an expert in materials science, and John Hart, who leads the mechanosynthesis lab. Also on the leadership team are Jonah Myerberg, a leader in materials engineering; Rick Chin, one of the early team members of SolidWorks and previously founder of Xpress 3D (acquired by Stratasys); and Marc Minor, head of marketing of Carbon3D. Scott Crump, the founder of Stratasys also serves on the board as board observer for Desktop Metal.

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