A 3D printing startup has just had its favour reinforced through a generous infusion of investment by three corporate bigwigs.
Lowe’s, GV (formerly Google Ventures), and BMW pumped US$45 million this week into Desktop Metal, a two-year-old metal 3D printing startup. This amount represents a sizable chunk of the US$97 million the company raised in total.
The Burlington, MA-based printing pioneer was the beneficiary of this largesse on the precipice of its launch of printer number one in a proposed line capable of producing complex metal parts for industries with voracious appetites for them. Up till now, 3D-printed metal products have been the crude results of the massive, esoteric printers who have pioneered this channel.
The metal parts the Desktop Metal printer will be able to produce will be suitable for both for mass-production-bound prototyping purposes and one-offs/low-volume runs whose unique requirements would’ve otherwise come with a massive price tag.
The luxury automobile maker’s interest in this emerging company is clear: its printer could let BMW offer customers highly customized switchgear, functional, and decorative elements. And the hardware superstore stands to enhance its DIY and home improvement offerings with highly specific items.
Desktop Metal is expected to launch a product later this year.